SEBI Update: Disclosure of Information on Issuers Not Cooperating (INC) with CRAs

Sebi observed over time the number of issuers that are non-cooperative with CRAs (Credit Rating Agencies) have increased, with a vast majority of INC issuers being unlisted and small entities.

In this regard, to provide enhanced transparency and information regarding non- cooperative issuers to various stakeholders, market participants and investors. CRA shall disclose two lists of issuers who are non-cooperative with the CRA, separately for securities that are listed, or proposed to be listed, on a recognised stock exchange, and other ratings.

The list would be disclosed in a prescribed format and the disclosure would be updated on a daily basis.

The new circular will be applicable with effect from July 15, 2023.

Link: View Circular information-on-issuers-not-cooperating-inc-with-cras_73172.html