Mahindra & Mahindra Financial Services has received credit ratings from CRISIL as under:

Non convertible debentures (Rs 32,875 crore) - CRISIL AAA/ Stable
Subordinated debt (Rs 5,113.50 crore) - CRISIL AAA/ Stable
Commercial paper (Rs 17,000 crore) - CRISIL A1+

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