### Corporate Bonds Traded on Moscow Exchange on Wednesday
- **RSKH B02-002P** (ISIN: RU000A1068R1) +0.2%
- **Polyus PBO-04** (ISIN: RU000A108L81) +1.6%
- **Borets Capital Bond 001P-05** (ISIN: RU000A10EK71) -0.3%
- **AFK Sistema Issue 14** (ISIN: RU000A101XN7) -0.2%
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, with the highest rating being **"AAA"** and the lowest being **"C"**, while **"D"** indicates an actual default. The higher the rating, the more reliable the issuer and typically the lower the bond yield.
- **"AAA" bonds** are the most reliable, usually issued by large systemically important companies, often with state participation.
- **"A-" to "AA+" bonds** are reliable securities, commonly invested in by pension funds and other institutional investors.
- **"BBB-" to "BBB+" bonds** are transitional category, representing companies that may be sensitive to adverse market or economic events, such as interest rate hikes.
- **"B-" to "BB+" bonds** are high-yield issuers (HYE), with high risks and high returns, typically 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.
Prepared by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management, Faculty of "Higher School of Management", Financial University under the Government of the Russian Federation.