Liquid Corporate Bonds Trade Mixed

16:00; 17 February 2026 year

### Russian Stock Exchange: Most Liquid Corporate Bonds Overview Below is a list of the most liquid corporate bonds traded on the Moscow Exchange: - **RSKH Bonds Series BO-02-002R (ISIN: RU000A1068R1)**: -0.1% - **Polyus Bonds Series PBO-04 (ISIN: RU000A108L81)**: -0.5% - **Borets Capital Bonds Series 1R-01 (ISIN: RU000A105ZX2)**: -0.1% - **AFK Sistema Bonds Series 14 (ISIN: RU000A101XN7)**: +0.1% In Russia, a national rating scale is used. Here’s a breakdown of the ratings: - **AAA bonds**: These are the most reliable, issued by large systemically important companies, often with state participation. - **A- to AA+ bonds**: Reliable bonds, commonly invested in by pension funds and other institutional investors. - **BBB+ to BBB+ bonds**: Transitional category. These are typically issued by reliable companies that may be sensitive to adverse market or economic events (e.g., an increase in the key interest rate). - **B+ to BB+ bonds**: High-yield issuers (HY). These carry high risks but also high returns, usually issued by small and medium-sized businesses operating in risky sectors. - **CCC and D bonds**: These are near-default, carrying maximum risks. This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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