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Mahindra & Mahindra (M&M) has received a credit rating upgrade to ‘AAA’, the highest level, by India Ratings the domestic arm of global ratings agency Fitch. The firm has assigned a Long Term Issuer rating of ‘Ind AAA’ with a stable outlook to M&M.
According to India Ratings, this upgrade is the result of the company’s resilience to economic cycles over the past 18 years, its strong market position, meaningful diversification activities, effective product development strategies, and conservative financial policies.
“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,” said Anand Mahindra, Chairman, Mahindra Group.
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