ACRA ASSIGNS A(RU) TO THE SERIES 001P-07 (RU000A10FN28) AND 001Р-08 (RU000A10FN36) BOND ISSUES OF SINARA TRANSPORTATION

Publication date: 21.07.2026

Credit rating rationale. The issues represent senior unsecured debt of SINARA TRANSPORTATION (hereinafter, the Company or ST). Due to the absence of either structural or contractual subordination of the issues, ACRA regards them as equal to other existing and future unsecured and unsubordinated debt obligations of the Company in terms of priority. In accordance with ACRA’s methodology, the detailed rating approach was applied to determine the credit ratings, according to which the recovery rate on the issues belongs to category II, and therefore the credit ratings of the issues are equal to the credit rating of the Company — A(RU) — and are set at A(RU).

key issue properties

Borrower	SINARA TRANSPORTATION
Issuer’s credit rating	A(RU), outlook Negative
Actual issuer	SINARA TRANSPORTATION
Type of security	Exchange-traded interest-bearing non-convertible uncertificated bond, series 001P-07
Issue volume	RUB 6 bln
Registration number	4B02-07-55323-E-001P
ISIN	RU000A10FN28
Placement date	July 21, 2026
Option date	July 10, 2029
Maturity date	June 25, 2031

Sources: ACRA, issuer’s data

Borrower	SINARA TRANSPORTATION
Issuer’s credit rating	A(RU), outlook Negative
Actual issuer	SINARA TRANSPORTATION
Type of security	Exchange-traded interest-bearing non-convertible uncertificated bond, series 001P-08
Issue volume	RUB 9 bln
Registration number	4B02-08-55323-E-001P
ISIN	RU000A10FN36
Placement date	July 21, 2026
Option date	July 10, 2029
Maturity date	June 25, 2031

Sources: ACRA, issuer’s data

regulatory disclosure

Applicable credit rating methodologies, including those used to assess the rated entity’s standalone creditworthiness and rating-sensitive external factors	1. Methodology for Assigning Credit Ratings to Financial Instruments under the National Scale for the Russian Federation to determine the credit rating of the bond issues under the national scale for the Russian Federation. 2. 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.
Fact of the initial rating assignment	Credit ratings have been assigned to the bond issues (ISIN RU000A10FN28, ISIN RU000A10FN36) under the national scale for the Russian Federation for the first time.
Fact of the expected rating assignment	Previously, an eA(RU) credit rating was assigned to the bond issues (ISIN RU000A10FN28, ISIN RU000A10FN36).
Next revision of the credit ratings	Within one calendar year from the latest rating action date.
Material sources of information	The rated entity, publicly available sources, and ACRA’s own databases.
Standards and date of the latest financial statements used as a source of information in the rating action	IFRS as of December 31, 2025
Rating solicitation	Solicited
Limitations with respect to the credit rating or the credit rating outlook, including those related to the quality of information on the rated object available to the credit rating agency	ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the rating methodologies. No conflicts of interest were discovered in the course of the credit rating process.
Ancillary services, if any, provided to the rated entity during the year preceding the rating action, and the period of these services.	Assessment of the rated entity’s obligations for compliance with sustainable development principles from May 18, 2021 to the present.