Credit rating rationale. In ACRA’s opinion, the below bond issued by the Republic of Sakha (Yakutia) is a senior unsecured instrument, and its credit rating is equal to the rating assigned to the Republic of Sakha (Yakutia).

Key issue properties

1)   RegS / ISIN: RU35010RSY0 / RU000A0ZZ7E6

Issue volume / outstanding

RUB 5.5 bln / RUB 5.5 bln

Final placement date / Repayment date

May 24, 2018 / May 15, 2025

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings to Individual Issues of Financial Instruments under the National Scale of the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

A credit rating has been assigned to the bond (RU000A0ZZ7E6) of the Republic of Sakha (Yakutia) for the first time. The credit rating is expected to be revised within 182 days following the rating action date (May 30, 2018) in compliance with the 2018 calendar of planned sovereign credit rating revisions and publications.

The assigned credit rating is based on the data provided by the Republic of Sakha (Yakutia). The credit rating is solicited, and the Republic of Sakha (Yakutia) participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by the Republic of Sakha (Yakutia) in its financial statements have been discovered.

ACRA provided no additional services to the Republic of Sakha (Yakutia). No conflicts of interest were discovered in the course of credit rating assignment.

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Analysts

Elena Anisimova
Senior Director - Head of Sub-sovereign Ratings Group
+7 (495) 139 04 86
Maxim Parshin
Senior Analyst, Sub-sovereign Ratings Group
+7 (495) 139-0480, ext. 225
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