Expected credit rating rationale. In ACRA’s opinion, the bond listed below issued by Saint Petersburg is a senior unsecured debt instrument, and its expected credit rating is equivalent to the credit rating of Saint Petersburg, i.e. AAA(RU). Key issue properties:
Key issue properties:
| Issue volume | RUB 30 bln |
| ISIN/RegS | - / RU35003GSP0 |
| Placement start date/maturity date | October 27, 2020 / April 13, 2027 |
Regulatory disclosure
ACRA will assign a credit rating to Saint Petersburg’s bond issue (RU35003GSP0) after the final documentation is provided. In case of any significant discrepancies between the final documentation and the preliminary materials, ACRA may change the issue’s credit rating against the expected credit rating.
The expected credit rating has been assigned to Saint Petersburg’s bond issue (RU35003GSP0) 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 for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.
An expected credit rating has been assigned to the government securities (RU35003GSP0) issued by Saint Petersburg for the first time. ACRA expects to assign the final credit rating within 90 days following the publication date of this press release.
The expected credit rating was assigned based on the data provided by the Government of Saint Petersburg. The expected credit rating is solicited, and the Government of Saint Petersburg participated in its assignment.
No material discrepancies between the provided data and the data officially disclosed by the Government of Saint Petersburg in its financial statements have been discovered.
ACRA provided no additional services to the Government of Saint Petersburg. No conflicts of interest were discovered in the course of the expected credit rating assignment.
