Mahindra & Mahindra Financial Services Limited (M&MFIN) has announced the reaffirmation of its credit ratings by two prominent rating agencies, CRISIL Ratings Limited and India Ratings & Research Private Limited. The ratings were received on January 12th, 2026.

India Ratings & Research Private Limited assigned an 'IND AAA/Outlook Stable' rating to various instruments, including Non-convertible Debentures worth ₹39,000 crore (390 bn), Retail Non-convertible Debentures at ₹8,000 crore (80 bn), Private Sub Debt at ₹5,450 crore (54.5 bn), Principal Protected Market Linked Debentures at ₹1,500 crore (15 bn), Retail Subordinate Debt at ₹3,000 crore (30 bn), Commercial Paper at ₹15,000 crore (150,000 mn), Bank Loans at ₹64,999.7 crore (649,997mn), and Fixed Deposits at ₹12,000 crore (120,000 mn).

CRISIL Ratings Limited reaffirmed its 'CRISIL AAA/Stable' rating for Non-Convertible Debentures amounting to ₹32,875 crore, Subordinated Debt at ₹5,113.50 crore, and Commercial Paper at ₹17,000 crore. M&MFIN is making this information available on its website at https://www.mahindrafinance.com/investor-relations/debt-information#credit-ratings.