Information on credit ratings applied pursuant to Paragraph 3 Clause 38.3 of Bank of Russia Regulation No. 706-P, dated 19 December 2019, ‘On Securities Issue Standards’

On 5 June 2020, the Bank of Russia’s Board of Directors decided as follows:

1. For the purposes of Paragraph 3 Clause 38.3 of Bank of Russia Regulation No. 706-P, dated 19 December 2019, ‘On Securities Issue Standards’, the following levels of credit ratings shall be established for an authorised bank and/or a foreign bank where, to receive funds in foreign currency, a credit institution — issuer may open or use an existing correspondent account in the relevant foreign currency:

for foreign subjects of the rating — ‘BB-’ according to the international rating scale of S&P Global Ratings, or ‘ВВ-’ according to the international rating scale of Fitch Ratings, or ‘ВВ-’ according to the international rating scale of Dagong Global Credit Rating, or ‘Ba3’ according to the international rating scale of Moody’s Investors Service;

for Russian subjects of the rating — ‘ruA-’ according to the Russian national rating scale of RAEX Rating Agency, or ‘A-(RU)’ according to the Russian national rating scale of Analytical Credit Rating Agency (ACRA).

2. This decision shall be applicable beginning on the date of publishing the information about it on the Bank of Russia website.

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