Fitch ups Pimpri view to positive

Fitch Ratings said it revised Pimpri Chinchwad Municipal Corp.'s outlook to positive from stable and affirmed its national long-term rating at AA-(ind).

The positive outlook reflects an expectation that the company will successfully implement urban infrastructure projects under Jawahar Lal Nehru National Urban Renewal Mission and other infrastructural projects without affecting its credit matrices, Fitch said.

As Pimpri Chinchwad is an industrial town, the corporation's finances suffer from concentration risk, the agency said.

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