AK&M Rating Agency's ratings count for MICEX listing starting April 15

The ratings assigned by AK&M Rating Agency have been made part of the new Listing Rules of CJSC MICEX Stock Exchange taking effect on April 15, 2015.

Among other things, the new Listing Rules specify requirements for securities to qualify for the Level 1 Quotation List of Moscow Exchange. Special attention is paid to credit ratings. In particular, ratings assigned by national rating agencies including AK&M Rating Agency will count for listing purposes along with international ratings.

The issuer, surety or issue of securities needs to be rated by AK&M Rating Agency at least 'A+' for the securities to be included in Level 1.

The issuer, surety or issue of securities needs to be rated by AK&M Rating Agency at least 'B++' for the bonds and Russian Depositary Receipts included in Level 1 at its formation to be maintained on the Level 1 List.

Mortgage participation certificates issued against security of non-commercial real estate need to be rated by AK&M Rating Agency at least 'B++' for being included or maintained on the Level 1 List.

Therefore, the new Listing Rules provide national rating agencies (including AK&M Rating Agency) with ample opportunities to contribute to the formation of CJSC MICEX Stock Exchange Quotation Lists, thereby increasing transparency of a wide range of financial instruments.

AK&M Rating Agency is a leading independent national rating agency engaged in rating activities since 1993. CJSC AK&M Rating Agency is accredited by the Ministry of Finance of the Russian Federation (order no. 452 as of September 17, 2010) and is on the Central Bank of Russia's Register of Accredited Rating Agencies.