Credit rating withdrawal rationale

The withdrawal of the credit rating assigned to the bond issued by the Krasnodar Krai (ISIN RU000A0JVZE0) is due to its full redemption.

Krasnodar Krai, 34005 (ISIN RU000A0JVZE0), maturity date: November 27, 2018, issue volume: RUB 4.8 bln.

According to the ACRA methodology, the credit rating equivalent to that of the Krasnodar Krai has been assigned to this issue, i.e. A(RU). The credit rating is withdrawn without its concurrent affirmation.

Regulatory disclosure

The credit rating has been previously assigned to the RU000A0JVZE0 bond issued by the Krasnodar Krai 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 the RU000A0JVZE0 bond was published by ACRA on October 18, 2017.

The credit rating was assigned based on data provided by the Krasnodar Krai, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and the Administration of the Krasnodar Krai participated in its assignment.

No material discrepancies between the provided data and data officially disclosed by the Krasnodar Krai in its financial report have been discovered.

ACRA provided no additional services to the Administration of the Krasnodar Krai. No conflicts of interest were discovered in the course of credit rating assignment.

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Analysts

Evgenia Trautman
Senior Analyst, Sovereign and Regional Ratings Group
+7 (495) 139 04 80, ext. 104
Ilya Tsypkin
Associate Director, Head of Municipal Ratings, Sovereign and Regional Ratings Group
+7 (495) 139 03 45
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