ACRA withdraws the credit rating of 002Р-02 series (RU000A1018E4) bond issued by Eurasian Development Bank in view of bond redemption

Credit rating withdrawal rationale

The withdrawal of the credit rating of Series 002Р-02 exchange-traded bond issued by the Eurasian Development Bank (RU000A1018E4) is due to the full redemption of this bond issue on February 26, 2020, as planned. Before the withdrawal, a AAA(RU) credit rating was assigned to the bond issue, i.e., on par with the credit rating of Eurasian Development Bank. The rating has been withdrawn without its concurrent affirmation.

Regulatory disclosure

The credit rating was assigned to RU000A1018E4 bond issued by Eurasian Development Bank under the national scale for the Russian Federation based on the Methodology for Assigning Credit Ratings under the International Scale to International Financial Institutions and Other Supranational Development Institutions, the Methodology for Mapping Credit Ratings Assigned on ACRA’s International Scale to Credit Ratings Assigned on ACRA’s National Scale for the Russian Federation, 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 of RU000A1018E4 bond was published by ACRA for the first time on December 26, 2019.

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

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

ACRA provided additional services to Eurasian Development Bank. No conflicts of interest were discovered in the course of the rating process.

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