ACRA ASSIGNS AA-(RU) TO THE SERIES BO-P21 (RU000A10F6E7) BOND ISSUE OF “SOVCOMBANK LEASING”, LLC

Credit rating rationale. The issue represents senior unsecured debt of “Sovcombank Leasing”, LLC (hereinafter, Sovcombank Leasing or the Company). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it as equal to other existing and future unsecured and unsubordinated debt obligations of the Company in terms of priority. As per ACRA’s methodology, the simplified approach was used to determine the credit rating, according to which the recovery rate for the issue corresponds to category II, and therefore the credit rating of the issue is equal to the credit rating of the Company — AA-(RU).

Sovcombank Leasing’s credit rating is based on the high degree of support from the parent bank, adequate assessments of business profile and funding, and satisfactory assessments of risk profile, capital adequacy, and liquidity.

key issue properties

Sources: ACRA, issuer’s data

REGULATORY DISCLOSURE

The credit rating has been assigned to the issue of “Sovcombank Leasing”, 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 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.

A credit rating of the issue (RU000A10F6E7) assigned under the national scale for the Russian Federation has been published for the first time.

The credit rating is expected to be revised within one year.

The credit rating was assigned based on data provided by “Sovcombank Leasing”, LLC, information from publicly available sources, and ACRA’s own databases.

The credit rating is solicited and “Sovcombank Leasing”, LLC 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 “Sovcombank Leasing”, LLC during the year preceding the rating action.

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