Pimpri Chinchwad Municipal Corporation Maintains AA+ Credit Rating For Third Consecutive Year

Pimpri Chinchwad Municipal Corporation Maintains AA+ Credit Rating For Third Consecutive Year

Commissioner Shekhar Singh expressed that the AA+ credit rating reflects the corporation's commitment to financial excellence

Aakash SinghUpdated: Tuesday, March 12, 2024, 03:56 PM IST
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Pimpri Chinchwad Municipal Corporation Maintains AA+ Credit Rating For Third Consecutive Year | Twitter/@pcmcindiagovin

Pimpri Chinchwad Municipal Corporation (PCMC) has once again achieved a financial credit rating of AA+, and this credit rating has remained stable for the last three years.

The AA+ credit rating is based on a thorough assessment of PCMC's financial performance during the fiscal year 2022-23 and the first half of 2023-24.

Commissioner Shekhar Singh expressed that the AA+ credit rating reflects the corporation's commitment to financial excellence. "It highlights the meticulous financial management and fiscal responsibility of PCMC. This designation for three consecutive years underscores the corporation's transparency and unwavering commitment to financial responsibility," he added.

Praveen Jain, Chief Accounts and Finance Officer, emphasised that PCMC has consistently received an AA+ credit rating for the last three years, a rare achievement among municipal corporations in the country. "This recognition not only demonstrates financial strength but also reflects the trust placed by investors, shareholders, and citizens in the financial management of PCMC," he added.

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