Credit rating rationale. The issue represents senior unsecured debt of PJSC DOM.RF (hereinafter, DOM.RF). 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 DOM.RF 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 belongs to category II, and therefore the credit rating of the issue is equal to DOM.RF’s credit rating — AAA(RU).
DOM.RF’s credit rating is based on the very high likelihood of extraordinary support from the controlling shareholder (hereinafter, the supporting entity) due to the Company’s exclusive importance to Russia’s economy and the determining influence that the supporting entity has on its operations. At the same time, the factors of DOM.RF’s standalone creditworthiness are at a sufficiently high level.
Key issue properties
|
Borrower |
PJSC DOM.RF |
|
Issuer’s credit rating |
AAA(RU), outlook Stable |
|
Actual issuer |
PJSC DOM.RF |
|
Type of security |
Uncertificated non-convertible |
|
Type of debt |
Senior unsecured |
|
Issue volume |
RUB 20 bln |
|
Registration number |
4B02-09-00739-A-002P |
|
ISIN |
RU000A10FF02 |
|
Placement start date |
June 17, 2026 |
|
Maturity date |
June 14, 2028 |
Sources: ACRA, issuer’s data
Regulatory disclosure
The credit rating has been assigned to the issue of PJSC DOM.RF 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 issue (RU000A10FF02) 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 PJSC DOM.RF, information from publicly available sources, and ACRA’s own databases.
The credit rating is solicited and PJSC DOM.RF participated in the rating process.
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 the following additional services to PJSC DOM.RF: research services from May 16, 2025 to November 11, 2025.
No conflicts of interest were discovered in the course of the rating process.