The Technopark campus here has been awarded CRISIL A /Stable rating based on the latest review. This was the first time a Kerala- based electronics technology park would be getting A rating during the last 10 years.
From D rating in 2014-15, Technopark had moved to B and then to BBB before achieving the A grade. A pressnote issued by Technopark said the upgrade reflected the improvement in Technopark’s cash flow due to leasing of additional commercial space across its Phases 1, 3 and Technocity, leading to 15% growth in operating income in the fiscal 2019.
CRISIL (formerly Credit Rating Information Services of India Limited) is a global analytical company providing ratings, research, and risk and policy advisory services
“CRISIL A rating is a defining moment for Technopark. It reflects on the progressive track of financial stability of the organisation in total. It will go a long way in attracting more investor focus and credibility among the industry,” said Technopark CEO, Hrishikesh Nair .
More than 400 companies operate out of the Technopark campus. The companies together employ more than 55,000 persons.
Over the last two years, Technopark has had significant investments by global companies such as Nissan, H&R Block and Teranet. The investment into the park has improved the park’s cash flow, adding stability and credibility in the standing of the park.
“The A rating is expected to attract more investments and build credibility among financial institutions to support the park’s strategic expansion plans,” Mr.Nair added.