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AMRUT Mission cities of Chhattisgarh get credit rating scores

  • AMRUT Mission cities of Chhattisgarh get credit rating scores

    Summary: The credit rating of these cities was assigned to agencies ICRA and Brickwork by the Union government. .As per information, credit rating of nine cities are Raipur & Bhilai BBB+, Bilaspur BBB, Rajnandgoan BB-, Durg BB-, Jagdalpur B, Raigarh BB, Ambikapur BB, and Korba BBB-. RAIPUR: For the first time nine cities of Chhattisgarh received the Credit Rating to raise the fund by issuing Municipal Bonds from the open market.Union government's survey agencies surveyed nine cities of Chhattisgarh and submitted its report to State Development Agency. Out of these nine cities, only four cities including Raipur, Bhilai, Bilaspur and Korba received investment grade rating- entitled to issue municipal bond to raise from the open market. AAA is the highest rating and none of the cities in the state got this rating.Credit rating process were held in nine cities falling Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Mission.As per Urban Development Adminstratio's Diretor Niranjan Das, the credit rating is conducted in urban local bodies of AMRUT cities to assess the creditworthiness and reliability of its debt obligation.

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