Corporate Bond Trading Dynamics on MICEX Highlighted

15:08; 26 August 2026 year

### Corporate Bonds Traded on Moscow Exchange on Wednesday - **Polyus** (ISIN: RU000A108L81, issue: PBO-04) -0.8% - **Borets Capital** (ISIN: RU000A10EK71, issue: 001P-05) +0.4% - **AFK Sistema** (ISIN: RU000A101XN7, issue: 14) -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, where the highest rating is "AAA" and the lowest is "C". Additionally, there is a "D" rating, which 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, issued by large systemically important companies, often with state participation. - **A- to AA+ bonds** are reliable securities, favored by pension funds and other institutional investors. - **BBB- to BBB+ bonds** represent a transitional category. These may be reliable companies that are sensitive to adverse market or economic events, such as a rise in the key interest rate. - **B- to BB+ bonds** are high-yield issuers (HY). These carry high risks but also 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 maximum 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.

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