### 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) +0.5%
- **Borets Capital issue (1P-01)** (ISIN code: RU000A105ZX2) +0.1%
- **AFK Sistema issue (Issue 14)** (ISIN code: RU000A101XN7) -0.2%
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. The highest rating is "AAA", the lowest is "C", and there is also a "D" rating, which indicates an actual default. Generally, 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.
- **A- to AA+ bonds** are reliable securities. Pension funds and other institutional investors invest in them.
- **BBB- to BBB+ bonds** are 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. The risks associated with these bonds 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.