Page 176 - RusRPTAug24

8.3.3 ECM news
8.4 International ratings
UK Pervaya has launched the first exchange-traded mutual investment fund (ETIF) on the IPO index on the stock market. The cost of a unit at the time of the fund's formation was 10 rubles. The instrument is available on the Moscow Exchange under the ticker SIPO during the main trading session, the management company told Vedomosti.
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
The share of foreign investment in Russia’s federal loan (OFZ) bonds was down at 6.7% as of July 1, 2024, according to files released by the Bank of Russia. As of June 1, 2024, the share of non-residents in OFZ was at 6.8%. As of May 1, 2024, the share of non-residents in OFZ also stood at 6.8%. Nominal amount of OFZ owned by non-residents as of the beginning of July 2024 totaled 1.393 trillion rubles (16bn) with the total volume of the market at 20.68 trillion rubles ($236bn), according to the regulator.
June 2024 was a record month for the Russian digital financial assets (DFA) market: during 49 placements, issuers raised at least RUB 23.3bn, or 20% of the total volume of all issues. This is stated in a review of market dynamics in the first half of 2024, prepared by the DFA Hub platform (Vedomosti has a copy). The amount of issues was determined by the softcap
176 RUSSIA Country Report August 2024 www.intellinews.com