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On approving list of rating agencies

23 December 2016
Press release

The Bank of Russia Board of Directors decided to approve the following list of rating agencies whose ratings are used by the Bank of Russia in line with Bank of Russia Ordinance No. 3445-U, dated 16 November 2014, ‘On the Procedure for Investing Insurer’s Capital and the List of Assets Eligible for Investment’, Bank of Russia Ordinance No. 3444-U, dated 16 November 2014, ‘On the Procedure for Investing Insurance Reserve Funds and the List of Assets Eligible for Investment’, and Bank of Russia Ordinance No. 3849-U, dated 16 November 2015, ‘On the Requirements for the Insurers’ Association to Invest Compensation Funds in Agricultural Insurance with Government Support’ (hereinafter, Bank of Russia Ordinances) to assess assets compliance with the requirements envisaged by Bank of Russia Ordinances as regards credit rating of a bank, reinsurer, issuer or securities issue as well as the bottom and top levels of credit rating of every rating agency included in the said list:

As regards Russian objects of rating:

No. Rating agency Credit rating bottom level Credit rating top level
1 S&P Global Ratings „B-” — on international scale; „ruBBB-” — on national scale „B+” — on international scale; „ruA” — on national scale
2 Fitch Ratings „B-” — on international scale; „BB(rus)” — on national scale „B+” — on international scale; „A-(rus)” — on national scale
3 Moody’s Investors Service „Caa1” — on international scale „B2” — on international scale
4 Expert RA ‘A(I)" — on national scale „A+(I)” — on national scale
5 ACRA „ВВ(RU)” — on national scale „BBB(RU)” — on national scale

As regards foreign objects of rating:

No. Rating agency Credit rating bottom level Credit rating top level
1 S&P Global Ratings „B-” — on international scale „B+” — on international scale
2 Fitch Ratings „B-” — on international scale „B+” — on international scale
3 Moody’s Investors Service „Caa1” — on international scale „B2” — on international scale
4 A.M. Best Co „B-” — on international scale „B+” — on international scale

The decision becomes effective from the moment it is published on the Bank of Russia website (www.cbr.ru).


The reference to the Press Service is mandatory if you intend to use this material.

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