Fitch affirms Indore

Fitch Ratings said it affirmed Indore Municipal Corp.'s national long-term rating at BBB(ind).

The outlook remains stable.

The affirmation factors in the company's steadily improving financial performance and civic services delivery parameters and reasonable progress in implementing projects, the agency said.

Fitch said it does note the potential delays and cost overruns of these projects that can exert pressure on the finances.

The city's economy draws support from the large, medium and small scale manufacturing units in the field of automobiles and textiles, the agency added.

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