Liquid Corporate Bonds Traded on Moscow Exchange on Tuesday Listed Below

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Below is a list of liquid corporate bonds traded on the Moscow Exchange on Tuesday:

- Polyus bond PBO-04 (ISIN code: RU000A108L81) -0.7%;

- Borets Capital bond 001P-05 (ISIN code: RU000A10EK71) -0.1%;

- AFK Sistema bond issue 14 (ISIN code: RU000A101XN7) -0.2%.

In Russia, a ratings scale is used to classify bonds:

Bonds rated "AAA" are the most reliable, typically issued by large systemically important companies, often with state participation.

Bonds rated from "A-" to "AA+" are considered reliable and are invested in by pension funds and other institutional investors.

Bonds rated from "BBB-" to "BBB+" are transitional. These may be reliable companies but are sensitive to adverse market and economic events (e.g., an increase in the key interest rate).

Bonds rated from "B-" to "BB+" are high-yield issuers (HY). They carry high risks but also offer high returns. These are usually small or medium-sized businesses operating in risky sectors.

Bonds rated "CCC" or "D" are on the brink of default, carrying the highest 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.