Credit rating withdrawal rationale
The withdrawal of the credit rating on BO-21 series (RU000A0JW9R7) exchange-traded bond issued by Bank GPB (JSC) is caused by the full redemption of this bond issue on March 18, 2018 as planned. Before withdrawal, the AA(RU) credit rating was assigned to the bond issue, i.e. on par with the credit rating of Bank GPB (JSC). The rating has been withdrawn without its concurrent affirmation.
Regulatory disclosure
The credit rating has been previously assigned to BO-21 series (RU000A0JW9R7) bond issued by Bank GPB (JSC) under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments under the National Scale of the Russian Federation, and the Key Concepts Used by Analytical Credit Rating Agency within the Scope of Its Rating Activities.
For the first time, the credit rating on BO-21 series (RU000A0JW9R7) bond was published by ACRA on December 28, 2017. The rating action to withdraw the credit rating was performed on March 19, 2019.
The assigned credit rating was based on the data provided by Bank GPB (JSC), information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and Bank GPB (JSC) participated in its assignment.
No material discrepancies between the provided data and the data officially disclosed by Bank GPB (JSC) in its financial statements have been discovered.
ACRA provided additional services to Bank GPB (JSC). No conflicts of interest were discovered in the course of the rating process.
