### Corporate Bonds Traded on Moscow Exchange on Wednesday
- Polus (PBO-04) (ISIN code: RU000A108L81) -1.4%
- Borets Capital Bond 001P-05 (ISIN code: RU000A10EK71) +0.1%
- AFK Sistema (Issue 14) (ISIN code: RU000A101XN7) -0.3%
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". 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-rated bonds**: These are the most reliable, issued by large systemically important companies, often with state participation.
- **A- to AA+ bonds**: These are reliable securities, favored by pension funds and other institutional investors.
- **BBB- to BBB+ bonds**: These are transitional category bonds, issued by companies that may be sensitive to adverse market and economic events (e.g., an increase in the key interest rate).
- **B- to BB+ bonds**: These are high-yield issuers (HYE), with high risks and high yields. These may be small or medium-sized businesses operating in risky sectors.
- **CCC and D-rated bonds**: These are on the brink of default, with maximum risks.
The overview was presented by Alexey Grishchenko, Ph.D., 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.