Credit rating agency Brickwork Ratings India has upgraded its ratings assigned to Mahindra & Mahindra Financial Services’ (M&M Finance) Unsecured Subordinated Debt (Bonds) to ‘AAA’ with a stable outlook from ‘AA+’ with a positive outlook. The ratings reflect the credit strength of M&M Finance’s parent company - Mahindra & Mahindra.
Earlier in June, Credit rating agency, India Ratings & Research upgraded M&M Finance’s long-term issuer rating to ‘AAA’ from ‘AA+’ with a stable outlook.
Mahindra & Mahindra Financial Services is a large non-banking finance company and M&M is a leading Indian automobile company. Besides financing M&M’s vehicles, MMFSL is also the holding company of the group's other financial services forays, including rural housing finance.
