Fitch affirms Kalyan Dombivilli

Fitch Ratings said it affirmed the national long-term rating of Kalyan Dombivilli Corp. at A(ind).

The outlook remains stable.

The affirmation factors in its consistent ability to generate revenue surpluses, maintain a moderate level of civic services delivery and made progress in reforms mandated under Jawaharlal Nehru National Urban Renewal Mission, Fitch said.

However, the agency noted the risks of time and cost overruns are present for the projects, which is a cause of concern.

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