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In a press interview on January 21, India’s urban
development minister, M. Ramachandran said that
following a credit rating process 19 Indian cities
received high enough scores to enable them to float
municipal bonds. While none of the cities under
scrutiny obtained triple-A ratings, four cities were
given AAs, another four received As and eleven
received BBBs. A triple B is considered good enough
to issue bonds.
While the minister declined to name the cities until
after a ministerial consultation process, he was
more forthcoming in praising cities that have been
on the forefront of recent urban reforms. He said
that Vizag, Chennai, Hyderabad, Kolkata, Kochi,
Coimbatore and Rajkot were some of the cities which
had undertaken more urban reforms in the last couple
of years than their peers.
Ramachandran also told India’s Economic Times that
urban water supply projects were on the top of the
list of projects scheduled to receive financial
support from central government. “That’s where the
need is, and hence there will be more investment in
this sector,” he stressed.
Courtesy:
http://www.citymayors.com/news/metronews_asia.html
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