Corporate Bond Trading Results on MICEX

15:34; 17 March 2026 year

### Most Liquid Corporate Bonds Traded on Moscow Exchange Below is a list of the most liquid corporate bonds currently 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 credit rating scale is used, which differs from international standards. 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 securities, typically invested in by pension funds and other institutional investors. - **BBB+ to BBB+ bonds**: Transitional category, representing companies that may be sensitive to adverse market or economic conditions (e.g., interest rate hikes). - **B+ to BB+ bonds**: High-yield issuers (HY) with higher risks but also higher returns, typically smaller businesses operating in riskier sectors. - **CCC and D bonds**: On the brink of default, carrying maximum risk. This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management at the Faculty of Higher School of Management, Financial University under the Government of the Russian Federation.

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