THE Pimpri Chinchwad Municipal Corporation (PCMC) achieved a significant milestone by securing the prestigious AA+ stable credit rating from CRISIL for its proposed Rs 200 crore green municipal bonds.
”This achievement complements PCMC’s existing reaffirmed AA+ stable credit rating for its Rs 200 crore municipal bond programme. The new AA+ stable credit rating issued on July 4 for its green bond initiative underscores PCMC’s robust financial health and strategic governance,” said officials from the civic administration.
The funds raised through these green municipal bonds will be dedicated to initiatives promoting environmental sustainability and improving urban mobility, said officials.
”PCMC intends to allocate resources towards non-motorized transport projects in the city, including developing cycling lanes, pedestrian-friendly infrastructure, and other sustainable transportation endeavours. By prioritizing non-motorized transport solutions, PCMC aims to mitigate carbon emissions, ease traffic congestion, and enhance overall air quality across Pimpri Chinchwad,” said civic officials.
Municipal commissioner Shekhar Singh said, “Securing the AA+ stable rating for our proposed green municipal bonds is an indicator of our commitment to sustainable development and sound financial management. We are dedicated to creating a greener, healthier urban environment for our residents, and these funds will play a crucial role in realizing our vision for a more sustainable Pimpri Chinchwad.”
The PCMC’s consistent AA+ stable credit rating reflects its commitment to transparent financial management and governance practices, reinforcing investor confidence in its ability to efficiently manage resources while fulfilling its commitment to improving residents’ quality of life.
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