Only 2 Cities Make the Cut for Credit Ratings

Mumbai and Nashik are the only two cities to receive positive ratings in an ongoing credit rating exercise commissioned last year by the Union ministry of Urban Development. The ministry set out to rate 63 cities an has covered 40 so far. An AA rating means a borrower is considered “high safety”; the rating is fourth on an 18-point scale, with AAA being the best. Cities with high ratings will find it easier and cheaper to raise credit.