Russian Corporate Bonds Trade Mixed on MICEX Tuesday

15:33; 24 March 2026 year

### Russian Corporate Bonds Overview: Most Liquid Issues on Moscow Exchange Below is a list of the most liquid corporate bonds traded on the Moscow Exchange: - **RSKH Bond Series BO-02-002R (ISIN: RU000A1068R1)**: -0.1% - **Polyus Bond Series PBO-04 (ISIN: RU000A108L81)**: +1.5% - **Borets Capital Bond Series 1R-01 (ISIN: RU000A105ZX2)**: -0.5% - **AFK Sistema Bond Series 14 (ISIN: RU000A101XN7)**: +0.5% In Russia, national credit rating scales are used, which differ from international standards. Here’s a breakdown of Russian bond ratings: - **AAA**: These are the most reliable bonds issued by large, systemically important companies, often with state participation. - **A- to AA+**: Reliable bonds that are typically invested in by pension funds and other institutional investors. - **BBB+ to BBB+**: Transitional category. These may be reliable companies but are sensitive to adverse market or economic events (e.g., interest rate hikes). - **B+ to BB+**: High-yield bonds (HY). These carry higher risks but also higher returns. They are usually issued by small or medium-sized businesses operating in risky sectors. - **CCC, D**: These bonds are on the brink of default, carrying maximum risks. This overview was prepared by Alexei 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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