Fitch rates Imphal B-(ind)

Fitch Ratings said it assigned Imphal Municipal Council a national long-term rating of B-(ind).

The outlook is stable.

The rating is constrained by Imphal's fledgling finances, poor civic services delivery, huge outstanding dues (disproportionate to its financial position) and uncertain political environment, according to the agency.

The financial position is undermined by the council's very low income base and high dependence on the assigned revenues and grants, the agency added.

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