Fitch rates New Delhi council AA(ind)

Fitch Ratings said it assigned an AA(ind) national long-term rating to the New Delhi Municipal Council.

The outlook is stable.

The outlook represents an expectation that the operating performance of the urban local body will continue to be robust, with revenue generation consistent with future borrowing plans, Fitch said.

The rating is driven primarily by the council's consistent record of revenue surpluses, better civic services delivery compared to its peers, debt-free status and its strong investment/cash position, the agency said.

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