BENGALURU: The Bangalore Metro Rail Corporation Limited (BMRCL) is on a sound financial footing and it has been given a stable rating by an entity of the US-based Fitch Group, one of the three major global credit rating agencies. Fitch’s India Ratings and Research as well as Brickwork Ratings India Pvt Ltd have recently awarded it the ‘Ind AA’ rating, revealed a top official.
The good rating is an affirmation that the BMRCL has enough cash in hand to service its loan interests and manage its borrowings, the official explained. The Corporation had received the same rating in 2019 and 2020. However, there was much cause for concern this year due to the high operational losses caused due to a dip in ridership.
