Mahindra & Mahindra Financial Services receives credit ratings from India Ratings & Research

Mahindra & Mahindra Financial Services has received credit ratings from India Ratings & Research as under:

1 Non-convertible Debentures (Rs 39,000 crore) - 'IND AAA'/ Outlook Stable
2 Retail Non-convertible Debentures (Rs 10,000 crore) - 'IND AAA'/ Outlook Stable (The rated limit is interchangeable with retail subordinated debt)
3 Private Sub Debt (Rs 34,500 crore) - 'IND AAA'/ Outlook Stable
4 Principal Protected Market Linked Debenture (Rs 1,500 crore) - IND PP-MLD AAA/Stable
5 Retail Subordinate Debt (Rs 3,000 crore) - 'IND AAA'/ Outlook Stable
6 Commercial Paper (Rs 15,000 crore) - IND A1+
7 Bank Loan (Rs 65,000 crore) - IND AAA/ Stable/ IND A1+