### Russian Corporate Bonds Performance on Moscow Exchange
Here is a summary of corporate bonds traded on Wednesday on the Moscow Exchange:
- **RSHB (ISIN: RU000A1068R1)**: +1.2%
- **Polyus (ISIN: RU000A108L81)**: +0.1%
- **Borets Capital (ISIN: RU000A105ZX2)**: +0.1%
- **AFK Sistema (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", the lowest is "C", and there is also a "D" rating, which indicates an actual default. The higher the rating, the more reliable the issuer and, generally, the lower the yield on its bonds.
- **AAA bonds**: These are the most reliable bonds, typically issued by large systemically important companies, often with state participation.
- **A- to AA+ bonds**: These are reliable bonds, in which pension funds and other institutional investors invest.
- **BBB- to BBB+ bonds**: This is a 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**: These are high-yield issuers (HYE). The risks are high, as is the yield. These may be small and medium-sized businesses operating in risky sectors.
- **CCC and D bonds**: These are on the brink of default. The risks for these bonds are maximum.
This overview was presented by Alexey Grishchenko, Ph.D., 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.