Training on Forecasting September 17–18

ACRA assigns AA(RU) to RU000A100998 bond issued by JSC “ALFA-BANK”

Credit rating rationale. The issue represents senior unsecured debt of JSC “ALFA-BANK” (hereinafter, Alfa-Bank, or the Bank). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it as pari passu to other existing and future unsecured and unsubordinated debt obligations of the Bank in terms of priority. According to the ACRA methodology, the credit rating of the issue is equivalent to that of Alfa-Bank, i.e. AA(RU).

The credit rating of Alfa-Bank is based on its strong and stable business profile, adequate capital and liquidity position as well as satisfactory risk profile assessment. The rating is additionally supported by the Bank’s moderate systemic importance for the Russian financial market.

Key issue properties

Borrower

JSC “ALFA-BANK”

Issuer’s credit rating

АА(RU), outlook Stable

Actual issuer

JSC “ALFA-BANK”

Type of security

Certified exchange-traded interest-bearing unregistered bond,
002P-04 series

Issue volume

RUB 10 bln

ISIN

RU000A100998

Placement start date

April 12, 2019

Maturity date

April 13, 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.

The credit rating has been assigned to the 002P-04 series bond issued by JSC “ALFA-BANK” for the first time. The credit rating is expected to be revised within one year following the publication date of this press release.

The assigned credit rating is based on data provided by JSC “ALFA-BANK”, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited, and JSC “ALFA-BANK” participated in its assignment.

No material discrepancies between the provided data and data officially disclosed by JSC “ALFA-BANK” in its financial statements have been discovered.

ACRA provided additional services to JSC “ALFA-BANK”. No conflicts of interest were discovered in the course of credit rating assignment.

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