On establishing long-term credit ratings of certain assets eligible for the calculation of capital of non-governmental pension fund
The Bank of Russia Board of Directors established the following long-term credit ratings:
For the purpose of paragraph four of Clause 2 of Bank of Russia Ordinance No.
For the purpose of paragraph seven of Clause 2 of the Ordinance, the long-term credit rating of a debtor in the classification of at least one of the foreign rating agencies shall be no lower than the sovereign rating of the Russian Federation in the corresponding currency assigned by the respective foreign rating agency decreased by two notches, or the Russian national credit rating shall be no lower than A-(RU) in the classification of the Analytical Credit Rating Agency (ACRA);
For the purpose of paragraph two of Clause 2 of the Ordinance, the long-term credit rating of credit institutions in the classification of at least one of the foreign rating agencies shall be no lower than the sovereign rating of the Russian Federation in the corresponding currency assigned by the respective foreign rating agency decreased by two notches, or the Russian national credit rating shall be no lower than A-(RU) in the classification of the Analytical Credit Rating Agency (ACRA).
This decision takes into account the following credit ratings by foreign rating agencies:
Credit ratings by Fitch Ratings — issuer default rating, corporate finance obligations, and long-term rating of structured finance, project finance and public finance obligations;
Credit ratings by S&P Global Ratings — issuer credit rating and long-term issue credit rating;
Credit ratings by Moody’s Investors Service — issuer rating, corporate family rating, structured finance issuer rating, long-term corporate obligation rating, structured finance long-term rating and bank deposit rating. The corporate family rating shall be applied to the issuer only in case this credit rating is assigned directly to the issuer.
For the purpose of this decision a rating notch means its gradation expressed through figures and symbols (‘+’, ‘-’, 1, 2, 3).
This decision is to become effective since it is published in the Internet.
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