On the Dynamics of Corporate Bond Trading

15:31; 04 November 2025 year

The most liquid corporate bonds traded on the Moscow Exchange are presented below: - RSXB Bond Series BO-02-002R (ISIN code - RU000A1068R1) -0.1%; - Polus Bond Series PBO-04 (ISIN code - RU000A108L81) +0.2%; - Borets Capital Bond Series 1R-01 (ISIN code - RU000A105ZX2) +0.3%; - AFK Sistema Bond Series 14 (ISIN code - RU000A101XN7) -0.1%. All corporate bonds have a rating that allows investors to quickly assess the credit quality of the issuer. In Russia, a national rating scale is used. The highest rating is "AAA", the lowest is "C", and there is also a "D" level, which means actual default. Therefore, the higher the rating, the more reliable the issuer and, as a rule, the lower the yield on its bonds. "AAA" bonds are the most reliable. These are large systemically important companies, usually with state participation. Bonds from "A-" to "AA+" are reliable securities. Pension funds and other institutional investors invest in them. Bonds from "BBB-" to "BBB+" are a transitional category. These can be reliable companies that are sensitive to adverse events in the market and economy (for example, an increase in the key interest rate). Bonds from "B-" to "BB+" are high-yield issuers (HY). Risks are high, as is the yield. This can be small or medium-sized businesses operating in a risky sector. Bonds "CCC" and "D" are on the brink of default. Risks for such securities are maximum. The overview was presented by Yulia Grishchenko, member of the Expert Council of the Moscow Exchange Listing Committee, PhD in Economics, Head of the Department of Financial and Investment Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.

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