Credit rating withdrawal rationale
The withdrawal of the credit rating assigned to RU000A0JU6P9 bond issued by the Volgograd Region is caused by full redemption of this bond issue on November 1, 2018 as planned. Previously, according to the ACRA methodology, the credit rating equivalent to that of the Volgograd Region has been assigned to this issue, i.e. BBB(RU). The credit rating is withdrawn without its concurrent affirmation.
The credit rating has been previously assigned to RU000A0JU6P9 bond issued by the Volgograd Region 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.
For the first time, the credit rating of RU000A0JU6P9 bond was published by ACRA on June 27, 2017. The rating action to withdraw the assigned credit rating was performed on November 23, 2018.
The assigned credit rating was based on the data provided by the Volgograd Region, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and the Volgograd Region participated in its assignment.
No material discrepancies between the provided data and the data officially disclosed by the Volgograd Region in its financial statements have been discovered.
ACRA provided no additional services to the Volgograd Region. No conflicts of interest were discovered in the course of the rating process.