PCMC Receives Stable AA+ Rating for Green Municipal Bonds

The Pimpri Chinchwad Municipal Corporation (PCMC) has been awarded a stable credit rating of AA+ by 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, officials said on Wednesday.

The funds raised through these green municipal bonds will be spent on initiatives to promote ecological sustainability and improve 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 committed 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 plans to allocate resources to non-motorized transportation projects in the city, including developing bike lanes, pedestrian-friendly infrastructure, and other sustainable transportation efforts. By prioritizing non-motorized transportation solutions, PCMC aims to reduce carbon emissions, ease traffic congestion, and improve the overall air quality in Pimpri Chinchwad.

“PCMC’s consistent AA+ stable credit rating reflects its commitment to transparent financial management and governance practices, strengthening investors’ confidence in its ability to manage resources efficiently while delivering on its commitment to improving the quality of life of residents,” said a senior official of the municipal body.

BOX: Green municipal bonds: tips

1. Strong financial health, low risk of default.

2. Investor confidence

3. Lower borrowing costs

4. Support for sustainability

5. Improved urban mobility

6. Improved air quality