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PCMC earns AA+ stable rating for green municipal bonds
The funds raised through these green municipal bonds will be dedicated to initiatives promoting environmental sustainability and improving urban mobility
The Pimpri Chinchwad Municipal Corporation (PCMC) has secured AA+ stable credit rating from CRISIL Ratings for its proposed ₹200 crore green municipal bonds. The new AA+ stable credit rating issued on July 4 underscores PCMC’s robust financial health and strategic governance, said the officials on Wednesday.
The funds raised through these green municipal bonds will be dedicated to initiatives promoting environmental sustainability and improving urban mobility.
Shekhar Singh, Municipal Commissioner of PCMC, 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.”
PCMC intends to allocate resources towards non-motorised 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.
“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,” said a senior official from the civic body.
BOX: Green municipal bonds pointers
1. Strong financial health, low risk of default.
2. Investor’s confidence
3. Lower borrowing costs
4. Support for sustainability
5. Enhanced urban mobility
6. Improved air quality
