Mahindra Finance credit ratings reaffirmed as "AAA/Stable" by India Ratings and CRISIL

Mahindra & Mahindra Financial Services Limited reported on November 11, 2025, that India Ratings & Research Private Limited and CRISIL Ratings Limited have reaffirmed its credit ratings. India Ratings & Research assigned an "IND AAA/ Outlook Stable" rating for Non-convertible Debentures (INR 390 bn), Retail Non-convertible Debentures (INR 80 bn), Private Sub Debt (INR 54.5bn), and Retail Subordinate Debt (INR 30 bn). Additionally, the company received an "IND PP-MLD AAA/Stable" for Principal Protected Market Linked Debenture (INR 15 bn) and "IND A1+" for Commercial Paper (INR 150,000 mn). Bank loans and Fixed Deposits also received "IND AAA/ Stable / IND A1+" and "IND AAA/ Stable" respectively, for INR 649,997mn and INR 120,000 mn.

CRISIL Ratings also reaffirmed strong ratings, with "CRISIL AAA/Stable" for Non-Convertible Debentures (INR 32,875 Crore), Subordinated Debt (INR 5,113.50 Crore), and Fixed Deposit (INR 18,000 Crore). The Commercial Paper received a "CRISIL A1+" rating for INR 17,000 Crore. These ratings reflect the company’s strong financial health and stable outlook.