Mahindra & Mahindra Ltd.

Credit rating agency, ICRA has re-affirmed rating assigned to Mahindra & Mahindra’s (M&M) Non-convertible Debenture (NCDs) Programme worth Rs 500 crore, Long-term, Fund-based Facilities worth Rs 65 crore and Long-term, Non-fund Based Facilities worth Rs 110 crore at ‘AAA’. The rating agency has also re-affirmed rating assigned to Short-term Non-fund Based Facilities worth Rs 350 crore at ‘A1+’. The outlook on the long-term rating is Stable.

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.