CREDIT RATING WITHDRAWAL RATIONALE
ACRA has withdrawn the credit rating of the series BO-02 (RU000A0JVW71) bond issue of JSCo “RZD” due to the full redemption of this issue on October 16, 2025. Previously, as per ACRA’s methodology, the credit rating of the bond issue was affirmed on par with the credit rating of JSCo “RZD” — AAA(RU). The credit rating has been withdrawn without its concurrent affirmation.
REGULATORY DISCLOSURE
The credit rating was previously assigned to the series BO-02 (RU000A0JVW71) bond issue of JSCo “RZD” based on the following methodologies: the Methodology for Assigning Credit Ratings to Financial Instruments under the National Scale for the Russian Federation to determine the credit rating of the bond issue under the national scale for the Russian Federation; the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities to ensure consistent and uniform application of ACRA’s methodologies, models, and key rating assumptions.
The credit rating of the series BO-02 (RU000A0JVW71) bond issue of JSCo “RZD” under the national scale for the Russian Federation was published for the first time on November 16, 2017.
The credit rating was assigned based on data provided by JSCo “RZD”, information from publicly available sources, and ACRA’s own databases.
The credit rating is solicited and JSCo “RZD” participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to JSCo “RZD” during the year preceding the rating action. No conflicts of interest were discovered in the course of credit rating assignment.
