Corporate Bond Trading Dynamics on MICEX Exchange

14:02; 01 April 2026 year

### Russian Corporate Bonds Trading on Moscow Exchange On Wednesday, the following corporate bonds were traded on the Moscow Exchange: - **RSKH Bank (BO-02-002R)** (ISIN code: RU000A1068R1) +0.2% - **Polyus (PBO-04)** (ISIN code: RU000A108L81) +1% - **Borets Capital (1P-01)** (ISIN code: RU000A105ZX2) -0.8% - **AFK Sistema (Issue 14)** (ISIN code: RU000A101XN7) -0.1% All corporate bonds have a credit rating, which helps investors quickly assess the creditworthiness of the issuer. In Russia, a national credit rating scale is used, where the highest rating is **"AAA"** and the lowest is **"C"**, with the **"D"** rating indicating an actual default. Generally, the higher the rating, the more reliable the issuer and the lower the yield on its bonds. - **"AAA" bonds** are the most reliable, issued by large systemically important companies, often with state participation. - **"A-" to "AA+" bonds** are reliable and are typically invested in by pension funds and other institutional investors. - **"BBB-" to "BBB+" bonds** are transitional category, issued by companies that may be sensitive to adverse market or economic events (e.g., interest rate hikes). - **"B-" to "BB+" bonds** are high-yield issuers (HYE) with high risks and high yields, often issued by small and medium-sized businesses operating in risky sectors. - **"CCC" and "D" bonds** are on the brink of default, carrying the highest risks. This overview was presented by Alexey Grishchenko, Ph.D., Professor of the Department of Operational and Sectoral Management at the **Higher School of Management** of the Financial University under the Government of the Russian Federation.

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