Grabs the highest AA+ rating after Pune from two agencies; Issue will be the city civic body's fifth in about a decade
A municipal bond is debt security issued by a municipality to finance capital expenditure
The agency expects a gradual increase in investor interest in municipal bonds over the medium-term
Under the Smart Cities Mission, municipal bodies would issue bonds to raise money
Move comes after Sebi's board last month approved criteria that is alternative to 'net worth' of municipalities