ICRA upgrades Maharashtra state guaranteed bond ratings

New Delhi, Aug 9 (UNI) Credit rating agency ICRA today upgraded its ratings assigned to the bond programmes supported by the government of Maharashtra to LBBB (SO), indicating moderate-credit quality.

The rated instuments include instruments of Maharashtra Krishna Valley Development Corporation, Maharashtra Vikrikar Rokhe Pradhikaran, Maharashtra Film State and Cultural Development Corporation, Maharashtra Water Conservation Corporation, and Maharashtra Jeevan Pradhikaran.

The revised ratings take into account the trend of improving state finances with higher growth in tax collections and improved liquidity position enabling among others, clearance of past dues.

UNI SBA CS DS1600