As part of the reforms envisaged under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), 15 municipal corporations across Tamil Nadu will undergo credit rating. The Tamil Nadu Urban Finance and Infrastructure Development Corporation (TUFIDCO) is choosing a consultant for the exercise.
The corporations are Avadi, Chennai, Coimbatore, Dindigul, Erode, Hosur, Madurai, Nagercoil, Salem, Thanjavur, Thoothukudi, Tiruchi, Tirunelveli, Tiruppur and Vellore.
A senior official told The Hindu that the funds for the process would come from the Centre.
Credit rating is based on the assets and liabilities of the urban local bodies, revenue streams, resources available for capital investments and other governance practices.
It is also necessary to mobilise funds from markets through municipal bonds.
