Most Liquid Corporate Bonds Traded on MICEX Listed Below

14:30; 23 April 2026 year

### Liquid Corporate Bonds Traded on Moscow Exchange Below is a list of 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)**: -0.3% - **Borets Capital Bond Series 001P-05 (ISIN: RU000A10EK71)**: -0.3% - **AFK Sistema Bond Series 14 (ISIN: RU000A101XN7)**: +0.3% All corporate bonds in Russia have ratings, which are measured on a national scale. The highest rating is "AAA", while 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**: These are the most reliable, typically issued by large, systemically important companies, often with state participation. - **"A-" to "AA+" bonds**: These are reliable securities, favored by pension funds and other institutional investors. - **"BBB-" to "BBB+" bonds**: These are transitional category bonds, issued by companies that may be sensitive to adverse market or economic events (e.g., interest rate hikes). - **"B-" to "BB+" bonds**: These are high-yield bonds (HYB), characterized by high risk and high returns. They are usually issued by small and medium-sized businesses operating in risky sectors. - **"CCC" and "D" bonds**: These are on the brink of default, carrying the highest risks. This overview was presented by Alexey Grishchenko, Doctor of Economics, 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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