Training on sovereign risk credit analysis, October 24

ACRA assigns A(RU) to 001P-02R (RU000A1008B1) bond issued by Tinkoff Bank

Credit rating rationale. The issue represents senior unsecured debt of Tinkoff Bank (hereinafter, Tinkoff 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 Tinkoff Bank, i.e. A(RU).

The credit rating of Tinkoff Bank is determined by its adequate business profile, strong capital adequacy, satisfactory risk profile, and adequate funding and liquidity position. The Bank is characterized by a moderately high creditworthiness level compared to other credit institutions in the Russian Federation.

Key issue properties

Issuer

Tinkoff Bank

Issuer’s credit rating

А(RU), outlook Stable

Actual issuer

Tinkoff Bank

Type of security

Certified non-convertible exchange-traded interest-bearing unregistered bond, 001P-02R series

Issue volume

RUB 10 bln

ISIN

RU000A1008B1

Final placement date

April 3, 2019

Maturity date

March 21, 2029

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation and 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 001P-02R series bond (RU000A1008B1) of Tinkoff 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 the data provided by Tinkoff Bank, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and Tinkoff Bank participated in its assignment.

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

ACRA provided no additional services to Tinkoff Bank. No conflicts of interest were discovered in the course of credit rating assignment.

Log in

Forgot password

Sign up

Reset password

Reset password

Termsofuse

Полное использование материалов сайта разрешается только с письменного согласия правообладателя, АКРА (АО). Частичное использование материалов сайта (не более 30% текста статьи) разрешается только при условии указания гиперссылки на непосредственный адрес материала на сайте www.acra-ratings.ru . Гиперссылка должна быть размещена в подзаголовке или в первом абзаце материала. Размер шрифта гиперссылки не должен быть меньше шрифта текста используемого материала.