Russian Corporate Bonds Trade Mixed on MICEX Thursday

15:28; 26 March 2026 year

### Most Liquid Corporate Bonds Traded on Moscow Exchange Below is a list of the most liquid corporate bonds traded on the Moscow Exchange: - RSXB Bond Series BO-02-002R (ISIN: RU000A1068R1) -0.1% - Polyus Bond Series PBO-04 (ISIN: RU000A108L81) +1% - Borets Capital Bond Series 1R-01 (ISIN: RU000A105ZX2) +0.6% - AFK Sistema Bond Series 14 (ISIN: RU000A101XN7) +0.2% All corporate bonds in Russia have a credit rating, which uses a national rating scale. The highest rating is "AAA", and the lowest is "C", with a "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"**: The most reliable bonds, usually issued by large systemically important companies, often with state participation. - **"A-" to "AA+"**: Reliable bonds, favored by pension funds and other institutional investors. - **"BBB-" to "BBB+"**: Transitional category, representing companies that may be sensitive to adverse market or economic events (e.g., interest rate hikes). - **"B-" to "BB+"**: High-yield bonds (HYBs), with higher risks and yields, often issued by small or medium-sized businesses operating in risky sectors. - **"CCC" and "D"**: Bonds on the brink of default, carrying maximum risks. 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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