Liquid Corporate Bonds Traded on Moscow Exchange on Thursday Listed Below

14:33; 09 July 2026 year

### Corporate Bonds Traded on Moscow Exchange on Thursday The following liquid corporate bonds were traded on the Moscow Exchange on Thursday: - Polus PBO-04 bond (ISIN code: RU000A108L81) +0.5%; - Borets Capital 001P-05 bond (ISIN code: RU000A10EK71) -0.6%; - AFK Sistema Issue 14 bond (ISIN code: RU000A101XN7) +0.2%. It is important to note that all corporate bonds have a rating. In Russia, a national rating scale is used, where the highest rating is "AAA" and the lowest is "C", with the "D" level indicating an actual default. The higher the rating, the more reliable the issuer and, as a rule, the lower the yield on its bonds. - **"AAA"** – These are the most reliable bonds. They are usually issued by large systemically important companies, often with state participation. - **"A-" to "AA+"** – These are reliable bonds. They are typically invested in by pension funds and other institutional investors. - **"BBB-" to "BBB+"** – This is a transitional category. These bonds may be issued by reliable companies that are sensitive to adverse market and economic events (e.g., an increase in the key interest rate). - **"B-" to "BB+"** – These are high-yield issuers (HY). The risks are high, as is the yield. These bonds are often issued by small and medium-sized businesses operating in risky sectors. - **"CCC" and "D"** – These bonds are on the brink of default. The risks associated with these bonds are maximum. 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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