Russian Corporate Bond Trading Dynamics on MICEX Thursday

15:19; 27 August 2026 year

### Liquid Corporate Bonds Traded on Moscow Exchange on Thursday - **Polyus PBO-04** (ISIN code: RU000A108L81) +0.4% - **Borets Capital 001P-05** (ISIN code: RU000A10EK71) +0.2% - **AFK Sistema Issue 14** (ISIN code: RU000A101XN7) +0.1% It is important to note that all corporate bonds have a credit rating. In Russia, a national rating scale is used. The highest rating is "AAA", the lowest is "C", and there is also a "D" rating, which indicates an actual default. The higher the rating, the more reliable the issuer and, generally, the lower the yield on its bonds. - **"AAA"**: The most reliable bonds. These are usually large systemically important companies, often with state participation. - **"A-" to "AA+"**: Reliable bonds. These are typically invested in by pension funds and other institutional investors. - **"BBB-" to "BBB+"**: Transitional category. These may be reliable companies that are sensitive to adverse market or economic events (e.g., an increase in the key interest rate). - **"B-" to "BB+"**: High-yield issuers (HY). Risks are high, as is the yield. These can be small or medium-sized businesses operating in risky sectors. - **"CCC" and "D"**: These bonds are on the brink of default. The risks associated with these securities are the highest. This overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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