Credit rating agency, Credit Analysis and Research (CARE Ratings) has assigned ‘AAA’ rating to Mahindra & Mahindra Financial Services’ (M&M Finance) proposed issue of Non-Convertible Debentures (NCDs) worth Rs 400 crore. The rating agency has also assigned ‘AAA’ rating to the company’s Subordinated Debt issue of Rs 600 crore.
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.
