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A first for Kerala in 10 years as Crisil upgrades Technopark rating to 'A'

The upgrade reflects the improvement in Technoparks cash flow due to leasing of additional commercial space across its Phases 1, 3 and Technocity

Press Trust of India  |  Thiruvananthapuram 

CRISIL

Crisil has upgraded Kerala-based Electronics Technology park--Technopark granting it A/Stable rating.

The new rating is based on the latest review by Crisil, a global analytical company providing ratings, research, and risk and policy advisory services, a press release said.

This is the first time in 10 years that a Kerala-based Electronics Technology Park has been awarded the A/Stable rating.

The upgrade reflects the improvement in Technoparks cash flow due to leasing of additional commercial space across its Phases 1, 3 and Technocity, leading to 15 per cent growth in operating income in the fiscal 2019.

"CRISIL A rating is truly a defining moment for Technopark, as it reflects on the progressive track of financial stability of the organisation in total," Technopark CEO Hrishikesh Nair said.

"It is a recognition of the check measures adhered to over the years in achieving this milestone, which will help us go a long way in attracting more investor focus and credibility among the industry," he added.

First Published: Mon, July 08 2019. 12:25 IST
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