Liquid Corporate Bonds Traded on Moscow Exchange on Thursday Listed Below

14:20; 12 November 2026 year

### Liquid Corporate Bonds Traded on Moscow Exchange on Thursday - **Polyus PBO-04 bond** (ISIN code: RU000A108L81) +0.1% - **Borets Capital 001P-05 bond** (ISIN code: RU000A10EK71) -0.2% - **AFK Sistema Series 14 bond** (ISIN code: RU000A101XN7) -0.3% It is important to note that all corporate bonds have a credit rating. In Russia, a national rating scale is used, where the highest rating is "AAA" and the lowest is "C", with an additional "D" category indicating actual default. The higher the rating, the more reliable the issuer and, as a rule, the lower the yield on its bonds. - **"AAA" bonds** are the most reliable. These are usually large systemically important companies, often with state participation. - **Bonds rated from "A-" to "AA+"** are reliable securities. They are typically invested in by pension funds and other institutional investors. - **Bonds rated from "BBB-" to "BBB+"** are transitional category. These may be reliable companies that 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). The risks are high, as is the yield. These can be small and medium-sized businesses operating in risky sectors. - **"CCC" and "D" rated bonds** are on the brink of default. The risks associated with these securities are maximum. 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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