### Russian Corporate Bonds Traded on Moscow Exchange on Wednesday
- **Polyus PBO-04 (ISIN: RU000A108L81)**: -1%
- **Borets Capital Bond 001P-05 (ISIN: RU000A10EK71)**: +0.1%
- **AFK Sistema Issue 14 (ISIN: RU000A101XN7)**: -0.1%
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:
- **AAA**: Highest rating, most reliable issuers (usually large state-owned or state-backed companies).
- **AA+ to A-**: Reliable bonds, typically held by pension funds and institutional investors.
- **BBB+ to BBB-**: Transitional category, may include companies sensitive to market and economic risks.
- **BB+ to B-**: High-yield bonds (HY), higher risks and higher returns, often issued by small and medium-sized businesses in risky sectors.
- **CCC, D**: Bonds on the brink of default, maximum risk.
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.