ACRA withdraws the credit rating of AO AKB "EXPRESS-VOLGA" due to the completion of its merger with PJSC Sovcombank

The Analytical Credit Rating Agency (ACRA) has withdrawn its BBB+(RU) credit rating of AO AKB "EXPRESS-VOLGA", outlook Stable, due to the takeover of AO AKB "EXPRESS-VOLGA" by PJSC Sovcombank (ACRA rating: A+(RU), outlook Stable), which was completed on June 15, 2020. The rating has been withdrawn without its concurrent affirmation, as ACRA does not possess sufficient information on the financial status of AO AKB "EXPRESS-VOLGA".

Regulatory disclosure

The credit rating was assigned to AO AKB "EXPRESS-VOLGA" under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Banks and Bank Groups under the National Scale for the Russian Federation, the Methodology for Analyzing Member Company Relationships Within Corporate Groups, and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

The credit rating of AO AKB "EXPRESS-VOLGA" was first published by ACRA on September 6, 2018.

ACRA provided no additional services to AO AKB "EXPRESS-VOLGA". No conflicts of interest were discovered in the course of credit rating assignment.

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