Thiruvananthapuram, Jul 6: CRISIL, India’s foremost provider of ratings, data, research, analytics, and solutions has upgraded its rating of Technopark here.
The rating was upgraded to ‘CRISIL A/Stable’ based on the latest review on June 2019.
CRISIL is the leading agile and innovative, global analytics company with the mission to make markets function better, Technopark CEO, Hrishikesh Nair, said here on Saturday.
This is the first time a Kerala-based Electronics Technology Park to have got A/Stable rating during the last 10 years of rating with CRISIL. From D rating in 2014-15, Technopark moved to B, then to BBB and now at A.
The upgrade reflects the improvement in Technopark’s cash flow due to the leasing of additional commercial space across its Phases 1, 3 and Technocity, leading to 15% 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," he said.
"It is a recognition of the check measures adhered 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," Mr Nair said. (UNI)