Credit rating rationale
The Agency believes that bond issued by the Kaliningrad Region has a status of senior unsecured debt. Credit rating of this debt instrument corresponds to the credit rating of the Kaliningrad Region.
Key issue properties
Issuer | Kaliningrad Region |
Issuer’s credit rating | BBB-(RU) (Stable) |
Actual issuer | Kaliningrad Region Ministry of Finance |
Type of security | Government bonds |
Issue volume | RUB 1 bln |
ISIN RegS | RU000A0JX2S9 / RU34001KLN0 |
Issue date | 23/12/2016 |
Amortization schedule | 20% of nominal value 18/12/2020 80% of nominal value 17/12/2021 |
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 of the Kaliningrad Region for the first time. The credit rating and its outlook are expected to be revised within 182 days following the rating action (December 23, 2016).
The assigned credit ratings are based on the data provided by the Kaliningrad Region. The credit ratings are solicited, and the Kaliningrad Region participated in their assignment.
No material discrepancies between the provided data and the data officially disclosed by the Kaliningrad Region in its financial report have been discovered.
ACRA provided no additional services to the Kaliningrad Region. No conflicts of interest were discovered in the course of credit rating assignment.
