On the Dynamics of Corporate Bond Trading on the MICEX (Moscow Interbank Currency Exchange)

15:17; 15 January 2026 year

The most liquid corporate bonds traded on the Moscow Exchange are listed below: - RSXB Bond Issue BO-02-002R (ISIN code - RU000A1068R1) +0.1%; - Polyus Bond Issue PBO-04 (ISIN code - RU000A108L81) +0.5%; - Borets Capital Bond Issue 1R-01 (ISIN code - RU000A105ZX2) +0.1%; - AFK Sistema Bond Issue 14 (ISIN code - RU000A101XN7) +0.1%. It should be noted that all corporate bonds have a rating. 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. Accordingly, the higher the rating, the more reliable the issuer and, as a rule, the lower the yield on its bonds. "AAA" - the most reliable bonds. These are large systemically important companies, usually with state participation. Bonds from "A-" to "AA+" - reliable securities. They are invested in by pension funds and other institutional investors. Bonds from "BBB-" to "BBB+" - transitional category. These may be reliable companies that are sensitive to adverse events in the market and economy (for example, an increase in the key rate). Bonds from "B-" to "BB+" - high-yield issuers (HY). Risks are high, as is the yield. This can be small and medium-sized businesses operating in a risky sector. Bonds "CCC", "D" are on the brink of default. The risks for such securities are maximum. The overview was presented by Yulia Grishchenko, member of the Expert Council of the Moscow Exchange Listing Committee, Ph.D., Head of the Department of Financial and Investment Management of the Faculty "Higher School of Management" of the Financial University under the Government of the Russian Federation.

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