CARE reaffirms ratings of Mahindra & Mahindra’s bank facilities

Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Mahindra & Mahindra’s long term bank facilities worth Rs 178.28 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 71.72 crore. The company has received the said ratings on the back of its experience promoters and management and dominant position in the Utility Vehicle (UV) and Farm equipment (FE) segments, its established brand image, diversified product portfolio, strong dealer and after-sales service network and its global presence. Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.