Ratings

On 13 August 2024, NCR affirmed the credit rating of Russian Agricultural Bank (RusAg, the Bank) at the level of AA+.ru with a stable outlook.

The credit rating confirmation reflects the high systemic importance of the Bank as an institution for supporting agricultural industry and the beneficiary’s ability to provide significant financial support. NCR also positively assesses the improvement in RusAg’s profitability. At the same time, the Bank continues to improve the quality of its loan portfolio by steadily decreasing the volume of problem debt.

https://www.ratings.ru/ratings/issuers/RSHB/

Note: Established in early 2019, National Credit Ratings (NCR) is a wholly owned subsidiary of RBC, a major Russian media group. The Bank of Russia added NCR to the list of accredited ratings agencies in September 2019. Using the most rigorous criteria, NCR rates financial institutions and insurers, corporates of all kinds, holding companies, local and regional governments, and debt obligations. Following best global practices, NCR has set new transparency standards for the Russian ratings industry and instituted several innovations to promote clarity, knowledge and better understanding for the entire community.

On 30 January 2024, ACRA affirmed the credit rating of Russian Agricultural Bank at AA(RU), outlook stable, as well as the credit rating of senior unsecured debt – equivalent to the Bank’s rating. The credit rating of RusAg reflects the very high systemic importance of the Bank for the Russian economy and the national banking system, support from the government, as well as the leading role of RusAg in supporting the agricultural sector of the Russian Federation.

At the same time, ACRA upgraded the Bank’s standalone creditworthiness assessment (SCA) by one notch to bbb – due to the improvement of the risk profile assessment. The Agency notes a steady trend in reducing the share of non-performing and potential non-performing loans, improving the quality of RusAg’s loan portfolio and bringing its level closer to that of comparable financial institutions.

The increase in the Bank’s SCA led to an upgrade of the credit rating of subordinated perpetual bonds of RusAg to B+(RU).

https://www.acra-ratings.ru/ratings/issuers/25/?lang=en

Note: ACRA is one of the biggest Russian authorized credit rating agency, founded in 2015. ACRA operates in compliance with the latest regulatory requirements and best global practices. The Agency’s main objective is to provide high-quality rating and analytical products to participants in financial markets on both the national and international levels.