ACRA assigns AAA(RU) to RU000A0ZZXS2, RU000A0ZZWZ9, RU000A0ZZE20 bonds issued by Sberbank

Credit rating rationale. The issues represent senior unsecured debt of Sberbank (hereinafter – Sberbank, or the Bank). Due to the absence of either structural or contractual subordination of the issues, ACRA regards them 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 ratings of the issues are equivalent to that of Sberbank, i.e. AAA(RU).

The credit rating of Sberbank is based on its very high systemic importance for the Russian economy and a high degree of state influence, as defined by the ACRA methodology. The Bank enjoys high standalone creditworthiness compared to other Russian credit institutions, which is supported by its exceptional market positions, adequate capital position and adequate risk profile.

Key issue properties

RU000A0ZZXS2

Issuer

Sberbank

Issuer’s credit rating

AAА(RU), outlook Stable

Actual issuer

Sberbank

Type of security

Certified non-convertible exchange-traded
interest-bearing unregistered bond,
001Р-50R series

Volume of placement

RUB 15 bln

RegS

4B024501481B001P

ISIN

RU000A0ZZXS2

Final placement date

December 13, 2018

Maturity date

March 07, 2024

RU000A0ZZWZ9

Issuer

Sberbank

Issuer’s credit rating

AAА(RU), outlook Stable

Actual issuer

Sberbank

Type of security

Certified non-convertible exchange-traded
interest-bearing unregistered bond,
001Р-52R series

Volume  of placement

RUB 12 bln

RegS

4B024401481B001P

ISIN

RU000A0ZZWZ9

Final placement date

December 13, 2018

Maturity date

February 07, 2022

RU000A0ZZE20

Issuer

Sberbank

Issuer’s credit rating

AAА(RU), outlook Stable

Actual issuer

Sberbank

Type of security

Certified non-convertible exchange-traded
interest-bearing unregistered bond,
001Р-16R series

Volume  of placement

RUB 40 bln

RegS

4B021601481B001P

ISIN

RU000A0ZZE20

Final placement date

July 30, 2018

Maturity date

January 18, 2023

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 Analytical Credit Rating Agency within the Scope of Its Rating Activities.

A credit rating has been assigned to the 001Р-50R, 001Р-52R, 001P-16R series bonds of Sberbank for the first time. The credit rating is expected to be revised within one year following the rating action date (December 12, 2018).

The assigned credit rating is based on the data provided by Sberbank, information from publicly available sources, as well as ACRA’s own databases. The credit rating is solicited, and Sberbank participated in its assignment.

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

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

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