### Corporate Bonds Traded on Moscow Exchange on Wednesday
Below is a list of corporate bonds traded on the Moscow Exchange (MosБиржа) on Wednesday:
- **RSHB issue (BO-02-002R)** (ISIN code: RU000A1068R1) -0.1%
- **Polyus issue (PBO-04)** (ISIN code: RU000A108L81) +0.7%
- **Borets Capital issue (1P-01)** (ISIN code: RU000A105ZX2) +0.1%
- **AFK Sistema issue (14)** (ISIN code: RU000A101XN7) +0.5%
All corporate bonds have a credit rating, which helps investors quickly assess the creditworthiness of the issuer. In Russia, a national rating scale is used, with the highest rating being "AAA" and the lowest being "C". There is also a "D" rating, which indicates actual default. The higher the rating, the more reliable the issuer and, typically, the lower the yield on its bonds.
- **AAA bonds** are the most reliable. These are usually large, systemically important companies, often with state participation.
- **A- to AA+ bonds** are reliable securities. Pension funds and other institutional investors invest in these bonds.
- **BBB- to BBB+ bonds** are a transitional category. These may be reliable companies that are sensitive to adverse market and economic events (e.g., an increase in the key interest rate).
- **B- to BB+ bonds** are high-yield issuers (HY). Risks are high, as is the yield. These can be small and medium-sized businesses operating in risky sectors.
- **CCC and D bonds** are on the brink of default. Risks for these securities are maximum.
This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.