Credit rating withdrawal rationale

The withdrawal of the credit rating of the (RU000A0ZZXP8) bond issued by Credit Europe Bank (Russia) Ltd. is due to the full redemption of this bond issue on December 9, 2020. Before the withdrawal, the credit rating of the bond issue was affirmed at BBB(RU), i.e. on par with the credit rating of Credit Europe Bank (Russia) Ltd. The rating has been withdrawn without its concurrent affirmation.

Regulatory disclosure

The credit rating was previously assigned to the (RU000A0ZZXP8) bond issued by Credit Europe Bank (Russia) Ltd. under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments on the National Scale for the Russian Federation, and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

The credit rating of the (RU000A0ZZXP8) bond was published by ACRA for the first time on December 12, 2018.

The credit rating was assigned based on the data provided by Credit Europe Bank (Russia) Ltd., information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and Credit Europe Bank (Russia) Ltd. participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by Credit Europe Bank (Russia) Ltd. in its financial statements have been discovered.

ACRA provided additional services to Credit Europe Bank (Russia) Ltd. No conflicts of interest were discovered in the course of credit rating assignment.

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