Mahindra and Mahindra assigned AAA rating from India Ratings & Research

Mahindra and Mahindra have received a credit rating upgrade to AAA from India Ratings & Research, the domestic arm of Fitch Ratings Inc. This is the highest rating received by a manufacturer from the global ratings agency.

A Long Term Issuer rating of ‘Ind AAA’ with a stable outlook was assigned to Mahindra and Mahindra by the firm. The company says that the upgrade is the result of the company’s resilience to economic cycles over the past 18 years, its strong market position, diversification activities, product development strategies and financial policies.

Anand Mahindra, Chairman, Mahindra Group, said, "This improvement in our credit rating is a reflection of Mahindra’s financial prudence over the years. It also recognises our ability to manage an increasingly volatile and complex business environment.”

V S Parthasarathy, Chief Financial Officer, Group CIO, EVP – Group M&A and Member of the Group Executive Board, Mahindra & Mahindra Ltd., said, "The Ind AAA rating proves that M&M has remained stable despite adversities by focusing on the highest standards of governance and prudent business and financial metrics to ensure zero trauma. In the context of fears over the credit quality of banks' corporate loan book, the rating assumes significance as an independent reassurance of Mahindra Group's conservative and robust financial policies. Even as we celebrate this occasion, we are aware of our responsibility of protecting this rating in times to come."

India Ratings & Research (Ind-Ra) is one of India's most respected rating agencies, committed to providing India's credit markets with accurate, timely and prospective credit opinions. Receiving an accreditation from such an esteemed organisation is a good achievement for Mahindra. The company has been striving continuously to keep their customer base delighted. The carmaker has expanded their network of dealerships and workshops in urban as well as rural areas in India. They have been putting in lot of effort to improve their service in our country. We think the carmaker should create a lot of excitement this year with the launch of the facelifted Scorpio and the compact SUV S101.