Credit rating withdrawal rationale
The credit rating of the bond (RU000A100ZS3) issued by PJSC Magnit has been withdrawn due to the full redemption of this issue on May 4, 2022. Before the withdrawal, in accordance with ACRA's methodology, the issue was affirmed at AA(RU), i.e. on par with PJSC Magnit. The rating has been withdrawn without its concurrent affirmation.
The credit rating was previously assigned to the RU000A100ZS3 bond issued by PJSC Magnit 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 the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
The credit rating of the RU000A100ZS3 bond issued by PJSC Magnit was published by ACRA for the first time on November 5, 2019.
The credit rating was assigned based on the data provided by PJSC Magnit, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and PJSC Magnit participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which was, in ACRA's opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to PJSC Magnit. No conflicts of interest were identified in the course of credit rating assignment.