Rule 17g-7 under the Securities Exchange Act of 1934 requires NRSROs to disclose certain information about each rating action. Egan-Jones complies fully with these disclosure requirements.
SEC Rule 17g-7, adopted under Section 15E(s)(3) of the Securities Exchange Act of 1934, requires each NRSRO to disclose certain information about each rating action it takes on a security or money market instrument. The rule is designed to promote transparency and comparability among NRSROs, and to help investors better understand the basis for credit ratings.
Egan-Jones Ratings Company maintains full compliance with Rule 17g-7 and makes rating action disclosure forms available in connection with each rating action. These disclosures are provided in XBRL format and are filed with the SEC through the EDGAR system.
Pursuant to SEC Rule 17g-7, Egan-Jones Ratings Company publishes a form disclosing certain information about each rating action taken on a security or money market instrument. These disclosures are made available at the time of the rating action.
Each rating action disclosure includes: (1) the version of the procedure or methodology used to determine the rating; (2) information on the main assumptions and parameters used in the rating model; (3) the overall credit score and the sub-scores for each main category of the rating model; (4) information on the sensitivity of the rating to changes in the main assumptions; and (5) the date the issuer was first rated by Egan-Jones.
For structured finance products, Egan-Jones provides additional disclosure including information about the representations, warranties, and enforcement mechanisms available to investors and how they differ from those in similar rated securities.
Rating action disclosure forms are available to subscribers and are filed with the SEC. Egan-Jones maintains records of all rating action disclosures for a period of not less than three years.
Egan-Jones Ratings Company provides rating action disclosures in XBRL (eXtensible Business Reporting Language) format as required by SEC Rule 17g-7. Download the latest XBRL disclosure package below.
Regulatory Note: Egan-Jones is not registered as an NRSRO in respect of issuers of asset-backed securities, government securities, municipal securities, or securities issued by a foreign government (all as defined in the Federal Securities Laws). Ratings on these asset classes are issued in a non-NRSRO capacity.