Corporate Bond Trading Dynamics on MICEX Exchange

14:44; 10 September 2026 year

### Liquid Corporate Bonds Traded on Moscow Exchange on Thursday - Polus PBO-04 bond (ISIN code: RU000A108L81) +0.4% - Borets Capital 001P-05 bond (ISIN code: RU000A10EK71) -0.4% - AFK Sistema Series 14 bond (ISIN code: RU000A101XN7) -0.1% All corporate bonds in Russia have ratings. The national rating scale is used, with the highest rating being "AAA" and the lowest being "C". There is also a "D" rating, which indicates a default. The higher the rating, the more reliable the issuer and, generally, the lower the yield on its bonds. - **"AAA"**: The most reliable bonds, issued by large systemically important companies, often with state participation. - **"A-" to "AA+"**: Reliable bonds, typically invested in by pension funds and other institutional investors. - **"BBB-" to "BBB+"**: Transitional category. These may be reliable companies but are sensitive to adverse market and economic events (e.g., interest rate hikes). - **"B-" to "BB+"**: High-yield bonds (HY). High risks, high returns. These are usually small and medium-sized businesses operating in risky sectors. - **"CCC" and "D"**: Bonds on the brink of default. Maximum risks. This overview was provided 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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