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.