CRISIL 'AA+' for Mahindra Finance

Our Banking Bureau
31 January 2005

Rs2 billion Non-Convertible Debenture Issue*

AA+/Stable

Rs2 billion Non-Convertible Debenture Issue*

AA+/Stable (Reaffirmed)

Rs2 billion Non-Convertible Debenture Issue*

AA+/Stable (Reaffirmed)