Page 95 - RusRPTDec22
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 8.3.3 ECM news
    Pharmaceutical company Binnopharm has not abandoned plans to hold an initial public offering (IPO) in Russia, CEO Rustem Muratov said on November 28. "We are not only considering the Asian markets, but are not abandoning a plan to place shares in Russia, it will depend on the state of the Russian market," Muratov said. The official said that the investment climate in the country may soon recover, including for retail clients, while he sees Binnopharm as an asset attractive for many investors.
 8.4 International ratings
     Russia - Rating agency
as of May 30, 2022
last change
Moodys (USD rating)
Ca
06/03/22
Fitch (USD rating)
Ca
08/03/22
S&P
CC
17/03/22
         Following sanctions on professional services introduced in April the main ratings have all suspending their ratings for Russia which has an NR rating from all three of the big agencies. The last ratings were issued in March shortly after the war started and put Russia on “near default” across the board.
 8.5 Fixed income
    In November the Ministry of Finance sharply increased the volume of placement of Russian Finance Ministry’s OFZ treasury bills: in the fourth quarter, the department attracted almost RUB1.5 trillion, although it had previously announced a “smooth return” to the market after a break since February. The ministry increased activity for two reasons.
First, the government decided to take advantage of the favourable environment and place significant volumes of OFZs “proactively, with a margin,” a source close to the cabinet said and another source also close to the government confirmed. Earlier, on the eve of the return to the issuance of public debt after more than a six-month pause, the Ministry of Finance was
 95 RUSSIA Country Report December 2022 www.intellinews.com
 














































































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