December 27, 2019
ACRA (JSC) announces changes to the previously published press release on affirming BBB-(RU) to “RZD Trading Company” JSC, outlook Stable (https://www.acra-ratings.com/press-releases/1599; https://www.acra-ratings.com/about/news/1289).
Changes made
Section “Regulatory Disclosure”
Previous edit
Disclosure of deviations from the approved methodologies: -
New edit
Disclosure of deviations from the approved methodologies: the ‘Geographical diversification’ factor was not assessed in line with the assessment range set forth in the methodology due to the wide coverage of the Group’s serviced companies.
November 12, 2019
ACRA (JSC) announces changes to the previously published press release on assigning the expected credit rating eAAA(ru.sf) to the asset-backed securities of LLC “GPB Aerofinance” (https://www.acra-ratings.com/press-releases/1497; https://www.acra-ratings.com/about/news/1199).
Changes made
Section “Regulatory Disclosure”
Previous edit
ACRA provided no additional services to Bank GPB (JSC) or LLC “GPB Aerofinance”. No conflicts of interest were identified in the course of the credit rating process.
New edit
ACRA provided additional services to Bank GPB (JSC). ACRA provided no additional services to LLC “GPB Aerofinance”. No conflicts of interest were identified in the course of the credit rating process.
October 11, 2019
ACRA (JSC) announces changes to the previously published press release on assigning BBB+(RU) to "Garant-Invest Commercial Real Estate" JSC, outlook Stable (https://www.acra-ratings.com/press-releases/1048; https://www.acra-ratings.com/about/news/777).
Changes made
Section “Regulatory Disclosure”
Previous edit
The coverage factor has been assessed with a deviation from the methodology.
New edit
The coverage factor has been assessed with a deviation from the methodology because the debt is represented by loans without amortization, only interest payments were taken into account in the calculation of the coverage factor.
October 11, 2019
ACRA (JSC) announces changes to the previously published press release on affirming BB+(RU) to RSG International Ltd, outlook Stable (https://www.acra-ratings.com/press-releases/909; https://www.acra-ratings.com/about/news/658).
Changes made
Section “Regulatory Disclosure”
Previous edit
Disclosure of deviations from the approved methodologies: the resulting credit rating was determined not in line with the Methodology for Analyzing Member Company Relationships Within Corporate Groups.
New edit
Disclosure of deviations from the approved methodologies: the resulting credit rating was determined not in line with the Methodology for Analyzing Member Company Relationships Within Corporate Groups. The level of support was assessed using an approach for an unidentifiable group due to the lack of information required to make the creditworthiness assessment of the Supporting Organization.
September 17, 2019
ACRA (JSC) announces changes to the previously published press release on assigning LT AAA to Switzerland, outlook Stable (https://www.acra-ratings.com/press-releases/1395; https://www.acra-ratings.com/about/news/1100).
Changes made
Previous edit
The Swiss Confederation (hereinafter, Switzerland, or the country) has been assigned the following ratings under the international scale:
- Long-term foreign and local currency credit rating at AAA;
- Short-term foreign and local currency credit rating at S1+.
The outlook on the long-term foreign and local currency credit rating is Stable.
New edit
The Swiss Confederation (hereinafter, Switzerland, or the country) has been assigned the following ratings under the international scale:
- Long-term foreign currency credit rating at AAA and local currency credit rating at AAA;
- Short-term foreign currency credit rating at S1+ and local currency credit rating at S1+.
The outlook on the long-term foreign currency credit rating is Stable and local currency credit rating is Stable.
September 11, 2019
ACRA (JSC) announces changes to the previously published press release on affirming AAA(RU) to Danske Bank, outlook Stable (https://www.acra-ratings.com/press-releases/1260; https://www.acra-ratings.com/about/news/984).
Changes made
Section “Regulatory Disclosure”
Previous edit
ACRA provided no additional services to Danske Bank. No conflicts of interest were discovered in the course of credit rating assignment.
New edit
ACRA provided additional services to Danske Bank. No conflicts of interest were discovered in the course of credit rating assignment.
August 26, 2019
ACRA (JSC) announces changes to the previously published press release on affirming AAA(RU) to “BNP PARIBAS Bank” JSC, outlook Stable (https://www.acra-ratings.com/press-releases/1068; https://www.acra-ratings.com/about/news/801).
Changes made
Section “Regulatory Disclosure”
Previous edit
ACRA provided no additional services to “BNP PARIBAS BANK” Joint stock company. No conflicts of interest were discovered in the course of credit rating assignment.
New edit
ACRA provided an additional service to “BNP PARIBAS BANK” Joint stock company in the form of informational support (training session). No conflicts of interest were discovered in the course of credit rating assignment.
August 15, 2019
ACRA (JSC) announces changes to the previously published press release on assigning AA+(RU) to IDGC of North-West, PJSC, outlook Stable (https://www.acra-ratings.com/press-releases/857; https://www.acra-ratings.com/about/news/621).
Changes made
Section “Regulatory Disclosure”
Previous edit
ACRA provided additional services to IDGC of North-West, PJSC. No conflicts of interest were discovered in the course of credit rating assignment.
New edit
ACRA provided no additional services to IDGC of North-West, PJSC. No conflicts of interest were discovered in the course of credit rating assignment.
August 12, 2019
ACRA (JSC) announces changes to the previously published press release on assigning the expected credit rating eBBB-(ru.sf) to senior tranche of ABS to be issued by LLC “SFE DVC-1” (https://www.acra-ratings.com/press-releases/1332; https://www.acra-ratings.com/about/news/1045).
Changes made
Section “Transaction”
Previous edit
The transaction is static, but with the possibility for the Issuer to purchase additional cash claims from the Servicer and the Special purpose vehicle from entities who are already debtors of the Issuer before the amortization of bonds begins. The inclusion of new assets into the Issuer’s portfolio is not permitted at any time over the entire term of the notes. Note amortization begins from the third coupon period.
New edit
The transaction is limitedly dynamic, with the possibility for the Issuer to purchase additional cash claims from the Servicer and the Special purpose vehicle from entities who are already debtors of the Issuer before the amortization of bonds begins. The inclusion of new assets into the Issuer’s portfolio is not permitted at any time over the entire term of the notes. Note amortization begins from the third coupon period.
July 30, 2019
ACRA (JSC) announces changes to the previously published press release on affirming AA(RU) to PJSC «MegaFon», outlook Stable, and AA(RU) to bonds issued by PJSC «MegaFon» (https://www.acra-ratings.com/press-releases/1337, https://www.acra-ratings.com/about/news/1049).
Changes made
Section “Regulatory Disclosure”
Previous edit
Disclosure of deviations from approved methodologies: the profitability factor was assessed with a deviation from the assessment range as specified in the methodology.
New edit
Disclosure of deviations from approved methodologies: the profitability factor was assessed with a deviation from the assessment range as specified in the methodology, as ARPU of PJSC «MegaFon» remains lower than that of its direct competitors, although it is close to the lower limit of the ultimate assessment of the relevant subfactor.
July 30, 2019
ACRA (JSC) announces changes to the previously published press release on assigning А-(RU) to bond issued by Setl Group, Ltd (RU000A100MG6) (https://www.acra-ratings.com/press-releases/1335, https://www.acra-ratings.com/about/news/1048).
Changes made
Section “Regulatory Disclosure”
Previous edit
Loss recovery sources were assessed with a deviation from the methodology.
New edit
Loss recovery sources were assessed with a deviation from the methodology due to the specifics of inventory accounting for the housing construction industry.
June 6, 2019
ACRA (JSC) announces changes to the previously published press release on assigning the credit rating to bond issued by Gazprom capital LLC (RU000A100EX8) (https://www.acra-ratings.com/press-releases/1258; https://www.acra-ratings.com/about/news/983).
Changes made
Title
Previous edit
ACRA assigns AAA(RU) to BО-001R-01 bond issued by PJSC “GAZPROM”
New edit
ACRA assigns AAA(RU) to bond issued by Gazprom capital LLC
Credit rating rationale
Previous edit
Bond issue is a senior unsecured debt of PJSC “GAZPROM” (hereinafter – Gazprom, the Company).
New edit
PJSC “GAZPROM” acts as a guarantor for the bonds issued by Gazprom capital LLC. The issue represents senior unsecured debt of PJSC “GAZPROM” (hereinafter – Gazprom, the Company).
Key issue properties
Previous edit
| Borrower | PJSC “GAZPROM” |
| Issuer’s credit rating | AAA(RU), outlook Stable |
| Actual issuer | Gazprom capital LLC |
New edit
| Guarantor | PJSC “GAZPROM” |
| Guarantor’s credit rating | AAA(RU), outlook Stable |
| Actual issuer | Gazprom capital LLC |
Section “Regulatory Disclosure” (second paragraph)
Previous edit
The credit rating was assigned to BO-001R-01 series bond issued by PJSC “GAZPROM” for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.
New edit
The credit rating was assigned to BO-001R-01 series bond issued by Gazprom capital LLC for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.
Section “Regulatory Disclosure” (the last paragraph)
Previous edit
ACRA provided no additional services to PJSC “GAZPROM”. No conflicts of interest were discovered in the course of credit rating assignment
New edit
ACRA provided no additional services to PJSC “GAZPROM” and Gazprom capital LLC. No conflicts of interest were discovered in the course of credit rating assignment.
