Crisil assgins Mahindra & Mahindra Financial Rating for financial instruments

Crisil Ltd has assigned / reaffirmed the following ratings for Mahindra & Mahindra Financial Services Ltd:

Rs 2 Billion Non-Convertible Debentures Issue: AA+/Stable(Assigned)

Non Convertible Debentures aggregating Rs 39.60 Billion: AA+/Stable(Reaffirmed)

Rs 1 Billion Subordinated Debt Programme: AA+/Stable(Reaffirmed)

Rs 250 Million Cumulative Redeemable Preference Share Issue: pfAA+/Stable(Reaffirmed)

Rs 250 Million Cumulative Redeemable Preference Share Issue: pfAA+/Stable(Reaffirmed)

Fixed Deposit Programme: FAA+/Stable(Reaffirmed)

Rs 12.5 Billion Short Term Debt Programme: P1+(Reaffirmed)

Note: The common independent director on CRISIL´s & Mahindra & Mahindra Financial Services Ltd’s boards did not participate in the Rating Committee Meeting and rating process of these instruments.

Source : Equity Bulls

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