IFSCA vide circular dated September 11, 2024 has issued clarification regarding Listing of Debt Securities on the recognised stock exchanges in the IFSC. The market participants have represented that there are some transactions wherein the issuers are already at an advanced stage of getting their debt securities listed on the recognised stock exchanges and it may be difficult for such issuers to obtain credit
rating in a short time frame.
In view of the above, after careful consideration of the representations received, it has been decided that it shall be mandatory for issuers to obtain credit rating for the debt securities proposed to be listed on the recognised stock exchanges with effect from October 01, 2024.
