Credit rating withdrawal rationale
The withdrawal of the credit rating on RU000A0JV7W2 exchange-traded BO-20 series bond issued by Bank GPB (JSC) without its concurrent affirmation is caused by full redemption of this bond issue on February 9, 2018 as planned. Before withdrawal, the credit rating of AA(RU) was assigned to the bond issue, i.e. on par with the credit rating of Bank GPB (JSC).
Regulatory disclosure
The credit rating has been previously assigned to RU000A0JV7W2 exchange-traded BO-20 series 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 RU000A0JV7W2 exchange-traded BO-20 series bond was published by ACRA on December 28, 2017. The rating action to withdraw the assigned credit rating was performed on February 12, 2018.
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.
