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Technopark Maintains A+/Stable Rating by CRISIL for Third Consecutive Year

TechnoparkToday(Oct,2023): In a remarkable achievement, Technopark, the pioneering tech hub in Kerala, has secured a coveted A+/Stable rating for the third consecutive year from the Credit Rating Information Service of India Limited (CRISIL). This recognition underscores Technopark’s unwavering commitment to financial stability and its consistent effort in maintaining a robust financial position.

Founded as the state’s first tech park and located in the capital, Technopark first earned its A+/Stable rating in 2021, following two consecutive years of holding a CRISIL A/Stable rating.

CRISIL assessed the standalone business and financial risk profiles of Technopark, acknowledging the remarkable journey of improvement in its ratings over the past decade. Notably, Technopark has transformed its financial standing from a D (default) rating in 2014 to BB, then BBB, and finally reaching the esteemed A/Stable rating during the years 2019 and 2020.

Colonel Sanjeev Nair (retd), the Chief Executive Officer of Technopark, expressed his satisfaction with the recognition, emphasizing that it reaffirms Technopark’s unwavering commitment to ensuring the timely servicing of its financial obligations while upholding a high degree of safety. He also highlighted that this achievement not only fills Technopark with pride but underscores the organization’s focus on progressive projects and transparent financial transactions.

Jayanthi Lakshmi, the Chief Finance Officer of Technopark, attributed this prestigious honor to the organization’s steadfast dedication to financial transparency, punctual tax payments, diligent loan repayments, and prudent utilization of available funds. She further stressed that Technopark has consistently maintained the highest standards of accuracy in financial transactions and management over the years. This recognition in the realm of financial trading not only instills immense pride but also serves as a powerful motivator for the future.

Technopark’s remarkable journey from a D rating to a coveted A+/Stable rating by CRISIL is a testament to its unwavering commitment to financial excellence and sets a benchmark for other tech hubs and organizations in the region. The consistent recognition by CRISIL underscores Technopark’s role as a leader in the tech industry and its dedication to maintaining a strong financial footing, even in challenging economic conditions. As Technopark continues to spearhead innovative projects and maintain financial transparency, it remains a shining example of success in India’s tech ecosystem.

       

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