credit rating withdrawal rationale

The credit rating of the bond issue (RU000A1030T7) of Moscow has been withdrawn due to the redemption of this issue on April 21, 2026.

REGULATORY DISCLOSURE

The credit rating was previously assigned to the issue of Moscow 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 and 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 issue (ISIN RU000A1030T7) assigned under the national scale for the Russian Federation was published by ACRA for the first time on June 7, 2021.

The credit rating was last published on October 28, 2025.

The credit rating was assigned based on data provided by Moscow, information from publicly available sources (the Ministry of Finance, the Federal State Statistics Service, and the Federal Tax Service), and ACRA’s own databases.

The credit rating is solicited and Moscow 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 Moscow during the year preceding the rating action.

No conflicts of interest were discovered in the course of credit rating assignment.

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