Mahindra Finance ratings reaffirmed; new ratings assigned by CRISIL

Mahindra & Mahindra Financial Services (M&MFIN) has announced the reaffirmation of existing credit ratings and assignment of new ratings by CRISIL Ratings Limited. Key highlights include the reaffirmation of "CRISIL AAA/Stable" for long-term bank loan facilities totaling INR133.17 Crore, short-term facilities rated "CRISIL A1+", and "CRISIL AAA/Stable" rating reaffirmations for INR2000 Crore in subordinated debt. Additionally, CRISIL has assigned a "CRISIL AAA/Stable" rating to another INR2000 Crore in subordinated debt and INR10000 Crore in non-convertible debentures. Furthermore, the "CRISIL AAA/Stable" rating was reaffirmed for fixed deposits amounting to INR18000 Crore (enhanced from INR12000 Crore) and commercial paper of INR17000 Crore (enhanced from INR15000 Crore) rated "CRISIL A1+". The company also announced the withdrawal of "CRISIL AAA/Stable" rating for non-convertible debentures aggregating INR1125 Crore due to debenture redemption. This announcement was made in compliance with SEBI regulations and posted on the company website.