 |
| Issuer name |
 |
FC/Outlook |
 |
LC/Outlook |
 |
National Scale |
 |
| Supranational Organizations |
| Eurasian Development Bank |
 | BBB/ Stable/A-3 |
 |
BBB/Stable/A-3 |
 | ruAAA/kzAA+ |
| |
Russia |
| Sovereign & Sovereign-supported Entities |
| Vnesheconombank |
 | BBB/ Stable/A-3 |
 |
BBB+/Stable/A-2 |
 | |
| Transfer and convertibility assessment for Russia-based non-sovereign issuers |
 | --/ --/-- |
 |
BBB/--/-- |
 | |
| Russian Federation |
 | BBB/ Stable/A-3 |
 |
BBB+/Stable/A-2 |
 | ruAAA |
| Russian Bank for Development |
 | BBB/ Stable/A-3 |
 |
BBB+/Stable/A-2 |
 | |
| Local & Regional Governments |
| Bashkortostan |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | |
|
 | Rating withdrawn |  | Rating withdrawn |
| Volgograd Oblast |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | ruAA- |
| Vologda Region |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | ruAA- |
| Balashikha Rayon |
 | Rating withdrawn |  | Rating withdrawn |
| Dzerzhinsk |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | ruBBB- |
| Irkutsk Region |
 | B/ Positive/-- |
 |
B/Positive/-- |
 | |
| Kaluga Oblast |
 | Rating withdrawn |  | Rating withdrawn |
| Karelia |
 | / / |
 |
// |
 | Rating withdrawn |
| Klin Rayon |
 | Rating withdrawn |  | Rating withdrawn |
| Krasnodar Krai |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | ruAA |
| Krasnoyarsk Krai |
 | BB+/ Negative/-- |
 |
BB+/Negative/-- |
 | ruAA+ |
| Leningrad Oblast |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | ruAA |
| Moscow |
 | BBB/ Stable/-- |
 |
BBB/Stable/-- |
 | |
| Moscow Region |
 | рейтинг приостановлен |  | рейтинг приостановлен |
| Nizhny Novgorod |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Novgorod oblast |
 | B/ Negative/-- |
 |
B/Negative/-- |
 | ruA |
|
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Omsk |
 | Rating withdrawn |  | Rating withdrawn |
| Samara Region |
 | BB+/ Negative/-- |
 |
BB+/Negative/-- |
 | ruAA+ |
| St. Petersburg |
 | BBB/ Stable/-- |
 |
BBB/Stable/-- |
 | |
| Sakha |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Sverdlovsk Region |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | |
| Stavropol Krai |
 | B+/ Stable/-- |
 |
B+/Stable/-- |
 | ruA+ |
| Surgut |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Tatarstan |
 | Rating withdrawn |  | |
| Tver oblast |
 | B+/ Negative/-- |
 |
B+/Negative/-- |
 | ruA+ |
| Tomsk Region |
 | B/ Positive/-- |
 |
B/Positive/-- |
 | ruA- |
| Ufa |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Khanty-Mansiysk Autonomous Okrug |
 | BBB-/ Negative/-- |
 |
BBB-/Negative/-- |
 | ruAAA |
| Cherepovets |
 | / / |
 |
// |
 | Rating withdrawn |
| Yamalo-Nenets Autonomus Okrug |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAAA |
| Corporates |
| Borets International Ltd. |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | ruAA- |
| Brand Development Inc. |
 | Rating withdrawn |  | Rating withdrawn |
| CTC Media |
 | BB-/ Stable/B |
 |
BB-/Stable/B |
 | ruAA- |
| Evraz group |
 | B/ Stable/-- |
 |
B/Stable/-- |
 | ruA- |
| FML Limited (East Line) |
 | Rating withdrawn |  | Rating withdrawn |
| Golden Telecom |
 | Rating withdrawn |  | |
| JFC Group |
 | Rating withdrawn |  | Rating withdrawn |
| Mastercroft |
 | Rating withdrawn |  | Rating withdrawn |
| PROFMEDIA LIMITED |
 | В+(предварительный)/ Stable/-- |
 |
В+(предварительный)/Stable/-- |
 | |
| Rapsod Trade Ltd. (Gallery) |
 | D/ --/-- |
 |
D/--/-- |
 | |
| Renova |
 | Rating withdrawn |  | Rating withdrawn |
| Ritzio Entertainment Group Ltd. |
 | Rating withdrawn |  | Rating withdrawn |
| Severstal Columbus
|
 | B/ Negative/-- |
 |
--/--/-- |
 | |
| Severstal Columbus Escrow |
 | B/ Negative/-- |
 |
--/--/-- |
 | |
| Sual International Ltd. |
 | Rating withdrawn |  | Rating withdrawn |
| TNK-BP Finance S.A. |
 | BBB-/ --/-- |
 |
BBB-/--/-- |
 | |
| TNK-BP International Ltd. |
 | BBB-/ Stable/A-3 |
 |
BBB-/Stable/A-3 |
 | |
| X5 Retail Group N.V. |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Almazy Rossii-Sakha (ALROSA) |
 | B+/ Positive/B |
 |
B+/Positive/B |
 | |
| Alliance Oil Company |
 | B+/ Stable/-- |
 |
B+/Stable/-- |
 | ruA+ |
| Wimm-Bill-Dann Foods OJSC |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Water Utility Vodokanal St. Petersburg |
 | BB+/ Stable/B-1 |
 |
BB+/Stable/B-1 |
 | ruAA+ |
| VolgaTelecom |
 | BB-/ CreditWatch Dev./-- |
 |
BB-/CreditWatch Dev./-- |
 | ruAA-CreditWatch Развивающийся |
| Vimpelcom |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | |
| Gazprom |
 | BBB/ Stable/A-2 |
 |
BBB/Stable/A-2 |
 | |
| Gazprom Neft |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAA+ |
| EuroChem |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | ruAA |
| Irkutskenergo |
 | Rating withdrawn |  | Rating withdrawn |
| Kazanorgsintez |
 | Rating withdrawn |  | Rating withdrawn |
| Caustic |
 | Rating withdrawn |  | Rating withdrawn |
| Comstar UTS |
 | BB/ Positive/-- |
 |
BB/Positive/-- |
 | ruAA |
| Concern Kalina |
 | / / |
 |
// |
 | ruA- |
| Kopeyka |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | ruBBB |
| LenSpecSMU |
 | B/ Stable/B |
 |
B/Stable/B |
 | ruA |
| LUKOIL |
 | BBB-/ CreditWatch Negative/-- |
 |
BBB-/CreditWatch Negative/-- |
 | ruAA+ |
| Maretex |
 | Rating withdrawn |  | Rating withdrawn |
| MGTS |
 | BB/ Positive/-- |
 |
BB/Positive/-- |
 | ruAA |
| Megaphone |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAAA |
| MMK |
 | Rating withdrawn |  | Rating withdrawn |
| Mosvodokanal |
 | BBB-/ Stable/A-3 |
 |
BBB-/Stable/A-3 |
 | ruAAA |
| Moscow Integrated Power Company |
 | BB+/ Negative/B |
 |
BB+/Negative/B |
 | ruAA+ |
| Mostransavto |
 | CC/ Dev./-- |
 |
CC/Dev./-- |
 | ruCC |
| Mosenergo |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | ruAA- |
| Interregional Distributive Co. of Center |
 | BB-/ Stable/B |
 |
BB-/Stable/B |
 | ruAA- |
| Mobile TeleSystems (MTS) |
 | BB/ Positive/-- |
 |
BB/Positive/-- |
 | |
| Nikoskhim-Invest |
 | / / |
 |
// |
 | Rating withdrawn |
| Novatek |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAA+ |
| Novolipetsk Iron And Steel |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAAA |
| Novorossiysk Commercial Sea Port |
 | BB+/ Positive/-- |
 |
BB+/Positive/-- |
 | ruAA+ |
| Norilsk Nickel |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | ruAA+ |
| Nutritek |
 | Rating withdrawn |  | Rating withdrawn |
| KD GROUP |
 | Rating withdrawn |  | Rating withdrawn |
| Atomic Energy Power Corporation |
 | BBB-/ Stable/A-3 |
 |
BBB-/Stable/A-3 |
 | ruAAA |
| United Heavy Machinery (OMZ) |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | ruBBB |
| Agrotorg |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| X5 Finance LLC |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | ruAA- |
| Plastcard |
 | Rating withdrawn |  | Rating withdrawn |
| Pyaterochka Finance |
 | / / |
 |
// |
 | ruAA- |
| RAO UES of Russia |
 | Rating withdrawn |  | Rating withdrawn |
| RBC Information Systems |
 | Rating withdrawn |  | Rating withdrawn |
| Rolf |
 | Rating withdrawn |  | |
| Rosinter |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | |
| Rosneft |
 | BBB-/ Stable/-- |
 |
BBB-/Stable/-- |
 | |
| Russian Corporation of Nanotechnologies |
 | BB+/ Stable/B |
 |
BB+/Stable/B |
 | ruAA+ |
| Russian Railways |
 | BBB/ Stable/-- |
 |
BBB/Stable/-- |
 | ruAAA |
| Rostelecom |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | |
| RusHydro |
 | BB+/ Stable/B |
 |
BB+/Stable/B |
 | ruAA+ |
| Severnaya Verf |
 | Rating withdrawn |  | Rating withdrawn |
| North-West Telecom |
 | BB-/ CreditWatch Dev./-- |
 |
BB-/CreditWatch Dev./-- |
 | ruAA-CreditWatch Развивающийся |
| Severstal |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | ruAA- |
| Sistema |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | |
| Tatneft |
 | Rating withdrawn |  | |
| Transnefteproduct |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | ruAA+ |
| Transneft |
 | BBB/ Stable/-- |
 |
BBB/Stable/-- |
 | |
| Pipe Metallurgical Co. |
 | B/ Negative/-- |
 |
B/Negative/-- |
 | ruA |
| Uralsviazinform |
 | B+/ CreditWatch Dev./-- |
 |
B+/CreditWatch Dev./-- |
 | |
|
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | ruBBB |
| Federal Grid Company |
 | BBB/ Stable/-- |
 |
BBB/Stable/-- |
 | ruAAA |
| CenterTelecom |
 | BB-/ CreditWatch Dev./-- |
 |
BB-/CreditWatch Dev./-- |
 | ruAA- |
| YUKOS |
 | рейтинг приостановлен |  | рейтинг приостановлен |
| Southern Telecom Company (UTK) |
 | B/ CreditWatch Dev./-- |
 |
B/CreditWatch Dev./-- |
 | ruA-CreditWatch Развивающийся |
| Banks |
| CentroCreditBank |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | ruBBB- |
| Aljba Alliance |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | |
| Alfa Bank |
 | B+/ Positive/B |
 |
B+/Positive/B |
 | ruA+ |
| ZAO BNP Paribas |
 | BBB-/ Stable/A-3 |
 |
BBB-/Stable/A-3 |
 | ruAAA |
| VTB |
 | BBB/ Negative/A-3 |
 |
BBB/Negative/A-3 |
 | ruAAA |
| DeltaCredit Bank |
 | Rating withdrawn |  | Rating withdrawn |
| Bank MFK |
 | Rating withdrawn |  | |
| Petrocommerce |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | ruA |
| Russian Standard Bank |
 | B+/ Negative/B |
 |
B+/Negative/-- |
 | ruA |
| URALSIB |
 | B+/ Negative/A-3 |
 |
B+/Negative/A-3 |
 | |
| Vozrozhdenie |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | ruA+ |
| Development Capital Bank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| Bank Soyuz |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB- |
| B.I.N. Bank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB- |
| Vneshprombank |
 | B-/ Positive/C |
 |
B-/Positive/C |
 | ruBBB |
| VTB24 |
 | BBB/ Negative/A-3 |
 |
BBB/Negative/A-3 |
 | ruAAA |
| Gazprombank |
 | BB/ Positive/B |
 |
BB/Positive/B |
 | ruAA |
| European Trust Bank |
 | Rating withdrawn |  | Rating withdrawn |
| UniCredi Bank |
 | BBB-/ Stable/A-3 |
 |
BBB-/Stable/A-3 |
 | |
| GLOBEXBANK |
 | BB-/ Stable/B |
 |
BB-/Stable/B |
 | ruAA- |
| Raiffeisenbank |
 | BBB/ Stable/A-3 |
 |
BBB/Stable/A-3 |
 | ruAAA |
| West Siberian Commercial Bank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| Impexbank |
 | Rating withdrawn |  | |
| INVESTBANK |
 | / / |
 |
// |
 | Rating withdrawn |
| Investment bank CIT Finance |
 | Rating withdrawn |  | |
| Commercial Bank Renaissance Capital |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| Krayinvestbank |
 | B/ Stable/C |
 |
B/Stable/C |
 | ruA- |
| LipetskComBank |
 | Rating withdrawn |  | Rating withdrawn |
| MDM Bank |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | |
| International Bank of Saint-Petersburg |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| International Industrial Bank |
 | D/ --/D |
 |
D/--/D |
 | |
| Bank Menatep St. Petersburg |
 | Rating withdrawn |  | |
| Promsvyazbank |
 | Rating withdrawn |  | |
| Rosbank |
 | BB+/ Stable/B |
 |
BB+/Stable/B |
 | ruAA+ |
| Rusfinance Bank |
 | Rating withdrawn |  | Rating withdrawn |
| SOTSGORBANK |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| SurgutNeftegazBank |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | |
| TransCreditBank |
 | BB/ Stable/B |
 |
BB/Stable/B |
 | ruAA |
| URALSIB-YUG Bank |
 | Rating withdrawn |  | Rating withdrawn |
| Ural Bank for Reconstruction and Development |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB- |
| Federal Bank for Innovation and Development |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | ruBBB- |
| Bank of Khanty-Mansiysk |
 | B+/ Positive/B |
 |
B+/Positive/B |
 | ruA+ |
| Home Credit |
 | B+/ Negative/B |
 |
B+/Negative/B |
 | |
| Insurance Companies |
| Allianz Russia |
 | BBB-/ Negative/-- |
 |
BBB-/Negative/-- |
 | ruAA+ |
| ZAO "ALIKO" |
 | / / |
 |
// |
 | ruAAA |
| Ingosstrakh |
 | BBB-/ Negative/-- |
 |
BBB-/Negative/-- |
 | ruAA+ |
| LEXGARANT |
 | B/ Stable/-- |
 |
B/Stable/-- |
 | ruA- |
| Moscow Re |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | ruAA |
| Neftepolis |
 | Rating withdrawn |  | Rating withdrawn |
| SCOR Perestrakhovaniye |
 | A/ Stable/-- |
 |
A/Stable/-- |
 | |
| Sogaz |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | ruAA+ |
| Unity Re |
 | BB-/ Positive/-- |
 |
BB-/Positive/-- |
 | ruAA- |
| Investment Companies & Other Financial Institutions |
| Renaissance Capital |
 | B/ Negative/B |
 |
B/Negative/B |
 | |
| Renaissance Financial Holdings Ltd. |
 | B+/ Negative/B |
 |
B+/Negative/B |
 | |
| S.L. Capital Services |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | |
| Brokerage house OTKRITIE |
 | Rating withdrawn |  | Rating withdrawn |
| Veles Capital |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| VTB-Leasing |
 | BBB/ Negative/A-3 |
 |
BBB/Negative/A-3 |
 | ruAAA |
| VTB-Leasing Finance |
 | BBB/ Negative/-- |
 |
BBB/Negative/-- |
 | |
| InterFin Trade Financial Company (CJSC) |
 | Rating withdrawn |  | Rating withdrawn |
| Mortgage Corporation of Moscow Region |
 | Rating withdrawn |  | Rating withdrawn |
| Moscow Regional Investment Trust Company |
 | D/ --/-- |
 |
D/--/-- |
 | D |
| National Factoring Company |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | ruBBB |
| Agency for Home Mortgage Lending OJSC |
 | BBB/ Stable/A-3 |
 |
BBB/Stable/A-3 |
 | ruAAA |
|
 | Rating withdrawn |  | Rating withdrawn |
| Troika Dialog |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | ruA+ |
| Element Leasing |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | ruBBB- |
| Structured Finance |
| Alfa Diversified Payment Rights Finance Co. S.A. 2007-B |
 | BB+ |
 |
|
 | |
| Alfa Diversified Payment Rights Finance Co. S.A. 2007-A |
 | BB+ |
 |
|
 | |
| Alfa Diversified Payment Rights Finance Company S.A. 2006-A |
 | BB+ |
 |
|
 | |
| Alfa Diversified Payment Rights Finance Company S.A. 2006-B |
 | BB+ |
 |
|
 | |
| Alfa Diversified Payment Rights Finance Company S.A. 2006-C |
 | BB+ |
 |
|
 | |
| BTA Finance Luxembourg S.A. |
 | B- |
 |
|
 | |
| Dali Capital PLC (secured fixed-rate notes series 20) |
 | BBB |
 |
|
 | |
| Dali Capital PLC A (1) (Gazprombank Mortgage Backed Securities series 2006-1) |
 | BBB/ --/-- |
 |
--/--/-- |
 | |
| Dali Capital PLC В (Gazprombank Mortgage Backed Securities series 2006-1) |
 | BB/ --/-- |
 |
--/--/-- |
 | |
| Dali Capital PLC С (Gazprombank Mortgage Backed Securities series 2006-1) |
 | B/ --/-- |
 |
--/--/-- |
 | |
| Gazprom International S.A. |
 | BBB |
 |
|
 | |
| Gazprombank Mortgage Funding 2 S.A. А1 |
 | BBB |
 |
|
 | |
| Gazprombank Mortgage Funding 2 S.A. А2 |
 | BBB |
 |
|
 | |
| Gazprombank Mortgage Funding 2 S.A. В |
 | BB |
 |
|
 | |
| Gazprombank Mortgage Funding 2 S.A. С |
 | B |
 |
|
 | |
| KIT Ipoteka Ltd. A |
 | BBB |
 |
|
 | |
| KIT Ipoteka Ltd. A |
 | / / |
 |
// |
 | ruAAA |
| LADA Car Loan Finance No. 1 Ltd.Мезонинный транш |
 | BB/ CreditWatch Negative/-- |
 |
--/--/-- |
 | |
| LADA Car Loan Finance No. 1 Ltd.Старщий транш |
 | BBB/ CreditWatch Negative/-- |
 |
--/--/-- |
 | |
| Red Arrow International Leasing PLC А |
 | BBB |
 |
|
 | |
| RUMBA S.A. A |
 | BBB |
 |
|
 | |
| RUMBA S.A. B |
 | BB |
 |
|
 | |
| Russian Car Loans No. 1 S.A. B |
 | BBB- |
 |
|
 | |
| Russian Car Loans No. 1 S.A. C |
 | BB- |
 |
|
 | |
| Russian Car Loans No. 1 S.A. A |
 | BBB |
 |
|
 | |
| Russian Consumer Finance No.1 S.A А-1 |
 | BBB+ |
 |
|
 | |
| Russian Consumer Finance No.1 S.A А |
 | BBB/ --/-- |
 |
--/--/-- |
 | |
| Russian Consumer Finance No.1 S.A С |
 | BB-/ CreditWatch Negative/-- |
 |
--/--/-- |
 | |
| Russian Factoring No. 1 S.A. Mezzanine loan facility |
 | Rating withdrawn |  | |
| Russian Factoring No. 1 S.A. Senior notes |
 | Rating withdrawn |  | |
| Russian Factoring No. 2 S.A. Mezzanine loan facility |
 | Rating withdrawn |  | |
| Russian Factoring No. 2 S.A. Senior notes |
 | Rating withdrawn |  | |
| Russian Structured Factoring Receivables No. 1 S.A. А |
 | Rating withdrawn |  | |
| Russian Structured Factoring Receivables No. 1 S.A. В |
 | Rating withdrawn |  | |
| URSA Mortgage Finance S.A. |
 | BBB/ --/-- |
 |
--/--/-- |
 | |
Ukraine |
| Sovereign & Sovereign-supported Entities |
| Transfer and convertibility assessment for Ukraine-based non-sovereign issuers |
 | --/ --/-- |
 |
B+/--/-- |
 | |
| Ukraine |
 | B+/ Stable/B |
 |
BB-/Stable/B |
 | uaAA- |
| Local & Regional Governments |
| Autonomous Republic of Crimea |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | uaBBB- |
| Dnipropetrovsk |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | uaBBB- |
| Ivano-Frankivsk |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | uaBBB- |
| Kiev |
 | CCC+/ Stable/-- |
 |
CCC+/Stable/-- |
 | -- |
| Lugansk |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | uaBBB- |
| Lviv |
 | CCC+/ Negative/-- |
 |
CCC+/Negative/-- |
 | uaBB |
| Odessa |
 | CCC+/ Negative/-- |
 |
CCC+/Negative/-- |
 | uaBB |
| Corporates |
| Ferrexpo PLC |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | |
| Azovstal Iron & Steel Works |
 | Rating withdrawn |  | |
| Interpipe |
 | Rating withdrawn |  | Rating withdrawn |
| Kyivstar GSM |
 | Rating withdrawn |  | |
| Banks |
| Alfa-Bank Ukraine |
 | CCC+/ Positive/C |
 |
CCC+/Positive/C |
 | uaBB |
| Kredobank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | uaBBB- |
| Nadra Bank |
 | Rating withdrawn |  | |
| PrivatBank |
 | Rating withdrawn |  | |
| Ukrsotsbank |
 | Rating withdrawn |  | |
| UNEX BANK |
 | Rating withdrawn |  | Rating withdrawn |
| Structured Finance |
| Colvis Finance Limited (bonds) |
 | B+ |
 |
|
 | |
Kazakhstan |
| Sovereign & Sovereign-supported Entities |
| Transfer and convertibility assessment for Kazakhstan-based non-sovereign issuers |
 | --/ --/-- |
 |
BBB/--/-- |
 | |
| Kazakhstan |
 | BBB-/ Stable/A-3 |
 |
BBB/Stable/A-3 |
 | kzAAA |
| Corporates |
| Eurasian Natural Resources Corp. |
 | BB+/ Stable/B |
 |
BB+/Stable/B |
 | |
| PetroKazakhstan Inc. |
 | Rating withdrawn |  | |
| Zhaikmunai |
 | B-/ Stable/-- |
 |
B-/Stable/-- |
 | |
| Intergas Central Asia |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | |
| Kazakhstan Temir Zholy |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | kzAA- |
| KEGOC |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | |
| Kazakhtelecom |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | kzA |
| KazMunaiGas |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | kzAA- |
| Kazpost |
 | BB/ Stable/-- |
 |
BB/Stable/-- |
 | kzA+ |
| Kaztemirtrans |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | kzAA- |
| KazTransGas |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | |
| KazTransOil |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | |
| KazMunaiGas Exploration Production |
 | BB+/ Stable/-- |
 |
BB+/Stable/-- |
 | |
| Banks |
| Alliance Bank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | kzBB- |
| АО AsiaCreditBank |
 | B/ Negative/B |
 |
B/Negative/B |
 | |
| ATF Bank |
 | Rating withdrawn |  | |
| Bank TuranAlem |
 | D/ --/-- |
 |
D/--/-- |
 | |
| Development Bank of Kazakhstan |
 | BBB-/ Stable/A-3 |
 |
BBB/Stable/A-3 |
 | kzAAA |
| Eurasian Bank |
 | B/ Negative/B |
 |
B/Negative/B |
 | kzBB |
| KazInvestBank |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | kzBB- |
| Kazkommertsbank |
 | B/ Negative/C |
 |
B/Negative/C |
 | |
| Halyk Savings Bank of Kazakhstan |
 | B+/ Negative/B |
 |
B+/Negative/B |
 | |
| Nurbank |
 | B/ Negative/C |
 |
B/Negative/C |
 | |
| Temirbank |
 | D/ --/-- |
 |
D/--/-- |
 | D |
| Tsesna Bank |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | kzB+ |
| Insurance Companies |
| Eurasia |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | kzA- |
| Investment Companies & Other Financial Institutions |
| Kazakh Agrarian Credit Corp. |
 | BB/ Stable/B |
 |
BB/Stable/B |
 | kzA+ |
| BTA Ipoteka |
 | Rating withdrawn |  | Rating withdrawn |
| KazAgroGarant |
 | BB-/ Stable/B |
 |
BB-/Stable/B |
 | kzA- |
| Kazakh State-Owned Accumulation Pension Fund GNPF |
 | Rating withdrawn |  | Rating withdrawn |
| Mortgage Guarantee Fund of Kazakhstan |
 | BB-/ Stable/-- |
 |
BB-/Stable/-- |
 | kzA- |
| ORDA Credit |
 | Rating withdrawn |  | Rating withdrawn |
| Structured Finance |
| BTA DPR Finance Co. 2007-D |
 | CCC/ CreditWatch Negative/-- |
 |
--/--/-- |
 | |
| BTA DPR Finance Co. 2007-A |
 | CCC |
 |
|
 | |
| BTA DPR Finance Co. 2007-В |
 | CCC |
 |
|
 | |
| BTA DPR Finance Co. 2007-С |
 | CCC |
 |
|
 | |
| Kazkommerts DPR Co. 2005A |
 | B+ |
 |
|
 | |
| Kazkommerts DPR Co. 2005В |
 | BB- |
 |
|
 | |
| Kazkommerts DPR Co. 2006A |
 | B+ |
 |
|
 | |
| Kazkommerts DPR Co. 2006B |
 | B+ |
 |
|
 | |
| Kazkommerts DPR Co. 2007-A |
 | B+ |
 |
|
 | |
| Kazkommerts DPR Co. 2007-B |
 | B+ |
 |
|
 | |
| Kazkommerts DPR Co. 2007-C |
 | B+/ --/-- |
 |
--/--/-- |
 | |
Georgia |
| Sovereign & Sovereign-supported Entities |
| Georgia |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | |
| Transfer and convertibility assessment for Georgia-based non-sovereign issuers |
 | --/ --/-- |
 |
BB/--/-- |
 | |
| Corporates |
| Georgian Railway LLC |
 | B+/ Stable/B |
 |
B+/Stable/B |
 | |
| Banks |
| Bank of Georgia |
 | B/ Stable/B |
 |
B/Stable/B |
 | ilBBB |
Belarus |
| Sovereign & Sovereign-supported Entities |
| Belarus |
 | B+/ Negative/B |
 |
BB/Negative/B |
 | |
| Banks |
| Belagroprombank |
 | B+/ Negative/B |
 |
B+/Negative/B |
 | |
| Belpromstroibank |
 | B+/ Negative/B |
 |
B+/Negative/B |
 | |
| Insurance Companies |
| Belarus Re |
 | BB-/ Negative/-- |
 |
BB-/Negative/-- |
 | |
Uzbekistan |
| Banks |
| Kapitalbank |
 | B-/ Negative/C |
 |
B-/Negative/C |
 | |
| Halk Bank |
 | B/ Stable/B |
 |
B/Stable/B |
 | |
| National Bank for Foreign Economic Activity of the Republic of Uzbekistan |
 | B/ Stable/B |
 |
B/Stable/B |
 | |
| Uzpromstroybank |
 | B/ Stable/B |
 |
B/Stable/B |
 | |
Azerbaijan |
| Sovereign & Sovereign-supported Entities |
| Azerbaijan |
 | BB+/ Positive/B |
 |
BB+/Positive/B |
 | |
| Banks |
| AGBank |
 | B-/ Stable/C |
 |
B-/Stable/C |
 | |
| Muganbank |
 | CCC+/ Stable/C |
 |
CCC+/Stable/C |
 | |
 |