CREDIT RATING WITHDRAWAL RATIONALE
The credit rating of the series 001P-01R (RU000A102G50) bond issue of VSC LLC has been withdrawn due to the full redemption of this issue on December 3, 2025. Before the withdrawal, in accordance with ACRA’s methodology, an AA(RU) credit rating was affirmed to the bond issue, i.e. on par with the credit rating of GLOBAL PORTS INVESTMENTS IJSC. The rating has been withdrawn without its concurrent affirmation.
REGULATORY DISCLOSURE
The credit rating was previously assigned to the series 001P-01R (RU000A102G50) bond issue of VSC LLC 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, rating scales, models, and key rating assumptions.
The credit rating of the series 001P-01R (RU000A102G50) bond issue assigned under the national scale for the Russian Federation was published for the first time on February 9, 2024.
The credit rating was assigned based on data provided by GLOBAL PORTS INVESTMENTS IJSC, information from publicly available sources, and ACRA’s own databases.
The credit rating is solicited and GLOBAL PORTS INVESTMENTS IJSC 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 GLOBAL PORTS INVESTMENTS IJSC during the year preceding the rating action.
No conflicts of interest were discovered in the course of credit rating assignment.
