Mahindra & Mahindra Financial Services Ltd. announced reaffirmations of credit ratings received on October 7th, 2026, from CRISIL Ratings Limited, India Ratings & Research Private Limited, and CARE Ratings Limited, at their respective times of 11:40 a.m. (IST), 3:47 p.m. (IST), and 1:16 p.m. (IST). CRISIL Ratings reaffirmed a CRISIL A1+ rating for Commercial Paper INR 20,000 Crore, a CRISIL AAA/ Stable rating for Non-Convertible Debentures INR 30,980 Crore, and a CRISIL AAA/ Stable rating for Subordinated Debt INR 6,000.50 Crore; India Ratings & Research reaffirmed an IND AAA/Stable/IND A1+ rating for Bank Loans INR 800,000 mn, an IND AAA/Stable rating for Fixed Deposits INR 200,000 mn, an IND AAA/ Outlook Stable rating for Non-convertible Debentures INR 490 bn, an IND AAA/ Outlook Stable rating for Retail Non-convertible Debentures INR 80 bn, an IND AA+ / Outlook Stable rating for Private Sub Debt INR 104.5 bn, an IND PP-MLD AAA/Stable rating for Principal protected Market Linked Debentures INR 15 bn, and an IND AAA/ Outlook Stable rating for Retail Subordinate Debt INR 30 bn; CARE Ratings reaffirmed a CARE AAA; Stable / CARE A1+ rating for Long Term / Short Term Bank facilities INR 50,000 Crore, a CARE AAA; Stable rating for Secured non-convertible debenture (NCD Privately Placed) INR 11,686.50 Crore, a CARE AAA; Stable rating for Unsecured non-convertible debenture (NCD privately placed) INR 1,000 Crore, a CARE AAA; Stable rating for Subordinated debt (privately placed) INR 2,385 Crore, and a CARE AAA; Stable rating for Long-term debt programme (public issue non-convertible debentures/subordinated debt) INR 4,059.03 Crore.
