Mahindra Finance credit ratings reaffirmed as "stable" by two agencies

Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) announced on September 13, 2025, the reaffirmation of its credit ratings by India Ratings & Research Private Limited and CRISIL Ratings Limited. These ratings cover various financial instruments, reinforcing the company's strong credit profile.

India Ratings & Research Private Limited assigned "IND AAA/ Outlook Stable" ratings to non-convertible debentures (INR 390 bn), retail non-convertible debentures (INR 80 bn), private sub debt (INR 54.5bn), retail subordinate debt (INR 30 bn), bank loan (INR 649,997mn), and fixed deposits (INR 120,000 mn). Additionally, a "IND PP-MLD AAA/Stable" rating was given to principal protected market linked debentures (INR 15 bn) and "IND A1+" for commercial paper (INR 150,000 mn).

CRISIL Ratings Limited also reaffirmed "CRISIL AAA/Stable" for non-convertible debentures (Rs. 32,875 Crore), subordinated debt (Rs. 5,113.50 Crore), and fixed deposits (Rs. 18,000 Crore). For bank loan facilities (Rs. 13,317 Crore), CRISIL assigned a "Long Term Rating - CRISIL AAA/Stable" and "Short Term Rating - CRISIL A1+". Commercial paper (Rs. 17,000 Crore) received a "CRISIL A1+" rating.