Mahindra & Mahindra Ltd.

Credit rating agency, CARE has reaffirmed ‘AAA’ rating to the Mahindra and Mahindra’s (M&M) long term bank facilities worth Rs 178.28 crore. The rating agency has also reaffirmed ‘A1+’ rating to the company’s short term bank facilities worth Rs 71.72 crore.

The company has received the said ratings on the back of its post M&M’s announcement of proposal to acquire 51% stake in Peugeot Motocycles (PMTC), part of the Euro 54 billion PSA Group based in France, through its subsidiary, Mahindra Two Wheelers (MTWL).

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.