ACRA assigns A(RU) to 001P-03R (RU000A100V79) 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


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-03R series

Issue volume

RUB 10 bln



Final placement date

September 25, 2019

Maturity date

September 12, 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-03R series bond 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.

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