Credit rating rationale. In ACRA’s opinion, the below bonds issued by Moscow are senior unsecured instruments, and their credit rating is equal to the rating assigned to Moscow.

Key issue properties

1)     RegS / ISIN: RU32048MOS0 / RU000A0JNYN1

Issue volume / outstanding

RUB 30.0 bln / RUB 30.0 bln

Issue date / Repayment date

December 11, 2006 / June 11, 2022


2)     RegS / ISIN: RU27066MOS0 / RU000A0JQHM1

Issue volume / outstanding

RUB 30.0 bln / RUB 4.347558 bln

Issue date / Repayment date

November 23, 2009 / November 23, 2018


Regulatory disclosure

The credit rating has been assigned 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.

A credit rating has been assigned to the bonds of Moscow for the first time. The credit rating is expected to be revised within 182 days following the rating action date (October 13, 2017).

The assigned credit rating is based on the data provided by Moscow. The credit rating is solicited, and Moscow Government participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by Moscow in its financial report have been discovered.

ACRA provided no additional services to Moscow Government. No conflicts of interest were discovered in the course of credit rating assignment.

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Evgenia Trautman
Senior Analyst, Sovereign and Regional Ratings Group
+7 (495) 139 04 80, ext. 104
Ilya Tsypkin
Associate Director, Head of Municipal Ratings, Sovereign and Regional Ratings Group
+7 (495) 139 03 45
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