The Credit Rating Information Service of India Limited (CRISIL) has awarded A+/Stable rating for the third year consecutive year to Technopark, as a recognition for maintaining proper financial progress and facilitating robust financial position. The State’s first tech park, located in the capital, first achieved A+/Stable rating in 2021, after maintaining CRISIL A/Stable for two consecutive years.
The standalone business and financial risk profiles of Technopark were considered by the rating agency CRISIL. It has been a story of improvement in rating for the park over the past decade. From D (default) rating in 2014, it moved upward to BB, then to BBB and to A/Stable during 2019 and 2020.
Colonel Sanjeev Nair (retd), chief executive officer, Technopark said that receiving this recognition again shows Technopark’s consistency in ensuring a high degree of safety regarding timely servicing of its financial obligations. He also added that receiving this appreciation again is not only a matter of pride for Technopark, but it also shows the Park’s focus on progressive projects and transparent financial transactions.
Jayanthi Lakshmi, chief finance officer, Technopark, said that Technopark’s eligibility for this honour is attributed to its commitment to financial transparency, punctual tax payments, diligent loan repayments, and effective utilisation of its available funds. The organisation has consistently upheld its accuracy in financial transactions and management over the years. She also added that this recognition in the realm of financial trading is a source of immense pride and motivation for the future.
