Most Liquid Corporate Bonds Traded on MICEX Listed Below

15:49; 15 April 2026 year

### Corporate Bonds Traded on Moscow Exchange on Wednesday - **RSKH (ISIN: RU000A1068R1)** +0.2% - **Polyus (ISIN: RU000A108L81)** +0.6% - **Borets Capital (ISIN: RU000A105ZX2)** +0.5% - **AFK Sistema (ISIN: RU000A101XN7)** +0.4% 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** are the most reliable. These are large systemically important companies, usually with state participation. **Bonds rated from "A-" to "AA+"** are reliable securities. They are invested in by pension funds and other institutional investors. **Bonds rated from "BBB-" to "BBB+"** are a transitional category. These can be reliable companies that are sensitive to adverse market and economic events (for example, an increase in the key interest rate). **Bonds rated from "B-" to "BB+"** are high-yield issuers (HYE). Risks are high, as is the yield. These may be small or medium-sized businesses operating in risky sectors. **Bonds rated "CCC" or "D"** are on the brink of default. Risks for these securities are the highest. 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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