SEBI makes Credit Risk-o-Meter mandatory for debt securities disclosures
SEBI SEBI Debt securities Disclosure 7 October 2026 SEBI has introduced a colour-coded 'Credit Risk-o-Meter' that issuers of debt securities and Online Bond Platform Providers (OBPPs) must show to investors. It applies to listed and proposed-to-be-listed debt instruments, whether issued publicly or by private placement. The circular dated October 7, 2026 comes into force after 45 days from the date of issuance. In short Credit Risk-o-Meter is mandatory in the offer document, Abridged Prospectus, Private Placement Memorandum, all advertisements of issuers/OBPPs and OBPP web and mobile platforms. Existing credit ratings (AAA to D) are mapped to six risk levels, each with a fixed colour. Name of the credit rating agency, the actual rating and, for unsecured debt, the word 'unsecured' in bold red must appear below the meter. Where there are multiple ratings, the meter reflects the lowest rating. OBPPs must update the meter wit...