Credit ratings assigned pursuant to Bank of Russia Ordinance No. 4897-U, dated 3 September 2018

The Bank of Russia Board of Directors took the following decision:

1. To assign the following credit ratings for the purposes of Paragraph 2 and 3 of Clause 3 of Bank of Russia Ordinance No. 4897-U, dated 3 September 2018, ‘On Amending Bank of Russia Ordinance No. 4298-U, Dated 22 February 2017, ‘On the Procedure for Investing Insurer’s Capital and the List of Assets Eligible for Investment’ (hereinafter referred to as Ordinance No. 4897-U) governing insurer capital investment in the amount stipulated in Clause 5 of Bank of Russia Ordinance No. 4298-U, dated 22 February 2017, ‘On the Procedure for Investing Insurer’s Capital and the List of Assets Eligible for Investment’ taking account of the restriction set by Paragraph 4, Clause 3 of Ordinance No. 4897-U:

for issuers (issues) of subordinated bonds — ruA- on the national rating scale for the Russian Federation in the classification of JSC Expert RA, or A-(RU) on the national rating scale for the Russian Federation in the classification of ACRA JSC;

for banks in which subordinated deposits are placed — ruAAA on the national rating scale for the Russian Federation in the classification of JSC Expert RA, or AAA(RU) on the national rating scale for the Russian Federation in the classification of ACRA JSC.

2. For the purposes of this decision, to use the following types of ratings assigned by rating agencies JSC Expert RA or ACRA JSC:

ratings by JSC Expert RA — credit ratings of banks and debt instruments assigned on the national rating scale for the Russian Federation;

ratings by ACRA JSC — credit ratings assigned on the national rating scale for the Russian Federation.

3. This decision is to be applied from the day it is published on the Bank of Russia website.

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