ICRA upgrades M&M’s long-term rating for NCD and bank facilities

Credit rating agency, ICRA has upgraded Mahindra & Mahindra’s (M&M’s) Long-term rating for Non-Convertible Debenture (NCD) programme and bank facilities to AAA (stable). The rating indicates highest degree of safety regarding timely servicing of financial obligations.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.