credit rating withdrawal rationale
The credit rating of the series BO-P11 (RU000A106GD2) bond issue of PJSC RusHydro has been withdrawn due to the full redemption of this issue on March 31, 2026. Previously, in accordance with ACRA’s methodology, the credit rating of this issue was affirmed at AAA(RU), i.e. on par with the credit rating of PJSC RusHydro.
REGULATORY DISCLOSURE
The credit rating was previously assigned to the issue of PJSC RusHydro based on the following methodologies: the Methodology for Assigning Credit Ratings to Financial Instruments under the National Scale for the Russian Federation to determine the credit rating of the bond issue 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 to ensure consistent and uniform application of ACRA’s methodologies, rating scales, models, and key rating assumptions.
The credit rating of the issue (RU000A106GD2) assigned under the national scale for the Russian Federation was published by ACRA for the first time on July 4, 2023.
The credit rating was assigned based on data provided by PJSC RusHydro, information from publicly available sources, and ACRA’s own databases.
The credit rating is solicited and PJSC RusHydro participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided the following additional services to PJSC RusHydro: assignment of an ESG rating to a company (sovereign/sub-sovereign) from October 18, 2023 to October 17, 2025; assignment of an ESG rating to a company (sovereign/sub-sovereign) from October 18, 2025 to the present.
No conflicts of interest were discovered in the course of credit rating assignment.
