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Kotak Mahindra Primus Ltd NCB rated`AA'

The Rs 70-crore non-convertible debenture issue of Kotak Mahindra Primus Ltd (KMPL) has been assigned a `AA' rating by Crisil.

According to a Crisil press release, the rating reflects the demonstrated asset quality on completion of one contract cycle, and improved systems, processes and controls that aid the company in effective credit evaluation and monitoring. Ford Credit Kota k Mahindra

Crisil has assigned a `AA' rating to the Rs 13-crore non-convertible debenture programme of Ford Credit Kotak Mahindra Ltd (FCKM).

According to a Crisil press release, the rating reflects the demonstrated support of the parent, Ford Credit International, in terms of management, funding support and strong information systems.

FCKM's role as a financier of both dealers and retail customers of Ford vehicles makes it strategically important for Ford India Ltd, the release said.

FCKM is a joint venture between Ford Credit International Inc, US (FCI), Kotak Mahindra Finance Ltd (KMFL) and Mahindra and Mahindra (M&M) to exclusively finance Ford vehicles manufactured by Ford (India) Ltd and extend financial support to Ford dealers. -- Our Bureau