Trading Dynamics of Most Liquid Corporate Bonds on MICEX

15:22; 18 March 2026 year

### Corporate Bonds Traded on Moscow Exchange on Wednesday - **RSKH Bonds (BO-02-002R)** (ISIN: RU000A1068R1) -0.1% - **Polyus Bonds (PBO-04)** (ISIN: RU000A108L81) +0.1% - **Borets Capital Bonds (1R-01)** (ISIN: RU000A105ZX2) +0.1% - **AFK Sistema Bonds (Issue 14)** (ISIN: RU000A101XN7) -0.1% 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", and the lowest is "C", with the "D" rating indicating an actual default. The higher the rating, the more reliable the issuer and, typically, the lower the yield on its bonds. - **AAA-rated bonds** are the most reliable. These are large, systemically important companies, often with state participation. - **A- to AA+ rated bonds** are reliable securities. They are invested in by pension funds and other institutional investors. - **BBB- to BBB+ rated bonds** are transitional category. These can be reliable companies that are sensitive to adverse market and economic events (e.g., a key interest rate hike). - **B- to BB+ rated bonds** are high-yield issuers (HY). Risks are high, as is the yield. These may be small or medium-sized businesses operating in risky sectors. - **CCC and D rated bonds** are on the brink of default. Risks for these securities are maximum. This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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