TEXT-Fitch ups MMFSL DA Dec 2009 - 1's purchaser payouts

Newswire

(The following statement was released by the rating agency) Feb 24 - Fitch Ratings has upgraded MMFSL DA Dec 2009 - 1's (an ABS transaction) purchaser payouts as follows: INR451.6m purchaser payouts upgraded to 'Fitch AA+(SO)(ind)' from 'Fitch AA(SO)(ind)'; Outlook Stable'; The upgrade is based on the similar rating action on the corporate undertaking provider (Mahindra and Mahindra Financial Services Limited (MMFSL, 'Fitch AA+(ind)'/Stable)), the level of available credit enhancement, and ...

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