credit rating withdrawal rationale
ACRA has withdrawn the AAA(RU) credit rating, outlook Stable, which was previously assigned to Public Joint Stock Company ROSSETI and the AAA(RU) credit rating, which was previously assigned to its bond issue (ISIN RU000A101MG4). The ratings have been withdrawn without their concurrent affirmation because Public Joint Stock Company ROSSETI has ceased operating as a separate legal entity as a result of the completion of its merger with “Federal Grid Company – ROSSETI”, PUBLIC JOINT-STOCK COMPANY on January 9, 2023.
regulatory disclosure
The credit ratings have been assigned to Public Joint Stock Company ROSSETI and the bond issue of Public Joint Stock Company ROSSETI under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Non-Financial Corporations under the National Scale for the Russian Federation, Methodology for Analyzing Rated Entities Associated with a State or a Group, and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities. The Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments on the National Scale for the Russian Federation was also applied to assign the credit rating to above issue.
The credit ratings of Public Joint Stock Company ROSSETI and the bond issue of Public Joint Stock Company ROSSETI (RU000A101MG4) were published by ACRA for the first time on March 2, 2018 and April 30, 2020, respectively.
The credit ratings were assigned based on data provided by Public Joint Stock Company ROSSETI, information from publicly available sources, and ACRA’s own databases. The credit ratings are solicited and Public Joint Stock Company ROSSETI participated in their assignment.
In assigning the credit ratings, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided additional services to Public Joint Stock Company ROSSETI. No conflicts of interest were discovered in the course of credit rating assignment.
