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ACRA assigns AАA(RU) to RU000A0ZYBG6 bond issued by PJSC ROSBANK

The change in the issuer of the bond (ISIN RU000A0ZYBG6) from DeltaCredit Bank JSC to its successor, PJSC ROSBANK, is due to the completion of the takeover of DeltaCredit Bank JSC by PJSC ROSBANK on June 1, 2019.

Credit rating rationale. The issue represents senior unsecured debt of PJSC ROSBANK (hereinafter, ROSBANK or the Bank). Due to the absence of either structural or contractual subordination of the issue, ACRA regards it as equal 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 ROSBANK, i.e. AAA(RU).

The credit rating of ROSBANK is based on a very high probability of the Bank receiving extraordinary support from its parent bank that boasts a high level of creditworthiness. ROSBANK has a high standalone creditworthiness assessment (SCA) in view of strong capital adequacy assessment and adequate risk profile and liquidity and funding positions.

Key issue properties

Issuer

PJSC ROSBANK

Issuer’s credit rating

ААА(RU), outlook Stable

Actual issuer

PJSC ROSBANK

Type of security

Certified exchange-traded interest-bearing non-convertible unregistered bond,

 BО-001R-01 series

Issue volume

RUB 7 bln

ISIN

RU000A0ZYBG6

Final placement date

September 28, 2017

Maturity date

September 30, 2020

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 BО-001R-01 series bond issued by PJSC ROSBANK 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 PJSC ROSBANK, information from publicly available sources, and ACRA’s own databases. The credit rating is solicited, and PJSC ROSBANK participated in its assignment.

No material discrepancies between the provided data and data officially disclosed by PJSC ROSBANK in its financial statements have been discovered.

ACRA provided additional services to PJSC ROSBANK. No conflicts of interest were discovered in the course of credit rating assignment.

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