### Corporate Bonds Traded on Moscow Exchange on Wednesday
- Polus (ISIN: RU000A108L81) +0.2%
- Borets Capital Bond 001P-05 (ISIN: RU000A10EK71) +0.2%
- AFK Sistema Issue 14 (ISIN: RU000A101XN7) -0.2%
All corporate bonds have a credit rating, which allows investors to 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", with the "D" rating indicating a 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 and typically issued by large systemically important companies, often with state participation.
- **A- to AA+ bonds**: These are reliable securities and are invested in by pension funds and other institutional investors.
- **BBB- to BBB+ bonds**: This is a transitional category. These may be reliable companies that are sensitive to adverse market and economic events, such as an increase in the key interest rate.
- **B- to BB+ bonds**: These are high-yield issuers (HY) with high risks and high yields. They 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.
This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management of the "Higher School of Management" Faculty at the Financial University under the Government of the Russian Federation.