Ratings

Credit and reliability ratings

Banks credit rating	mark for export
AF Bank	A
AKB "Express credit"	B++
AKTIV BANK	A
AltayBiznes-Bank	B++
Anchor Bank	B++
Asian-Pacific Bank	A+
Avtogradbank	A
Baltiiskii bank	B++
Bank "Levoberezhny"	A
BANK "RESERV" (JSC)	A
Bank "ROST"	A
Bank AVB	A
Bank BFA	A
Bank Megapolis	B++
Bank of Corporate Financing	A
Bank Pervomajsky	A
Bank Snezhinsky	A
Bank Solidarnost	A
BUM-Bank	B++
CB "FDB" LLC	B++
CB Accept	A
CB Assotsiatsia	A
CB Intercredit	B++
CB Koltso Urala	A+
CB Natsinvestprombank	A
CB Natsionalnyi Standart	A
CB RusYugbank	A
CB Unifin	A
CB “GENBANK”	B++
Chelyabinvestbank	A+
Chuvashcreditprombank	A
Closed Joint-Stock Company "ISBANK"	A
Commercial Bank "International Fund Bank" Limited Liability Company	B++
Commercial bank "Sudostroitelny bank" (LTD)	A+
Commercial Bank for Social Development "Boomerang"	B++
Commercial Volzhsky social bank	B++
Dagenergobank	A
Dil-Bank	B++
EKOPROMBANK	B++
ELKABANK	A
Energobank	A
Energomashbank	B++
ENERGOTRANSBANK	A
ESIDBANK	B++
FIA-BANK	B+
Gazprombank	A++
Grand Invest Bank	B++
Inc. Bank "Credit-Moskva"	A
Inc. Bank "Ermak"	A
Inc. Bank "Prioritet"	A
Inc. Bank Derzhava	A
Inc. Bank Finprombank	B++
Independant Construction Bank	A+
IntekhBank	A
International Commercial Bank	B++
INVESTRUSTBANK	B++
Joint Stock Commercial Bank “Master-Capital”	B++
Joint Stock «East-Siberian Transport Commercial Bank»	B++
Joint-Stock bank "Almazergienbank"	A
JSC "Baltic Development Bank"	A
JSC «New Industrial Bank»	B+
JSC-IB «KS BANK»	A
JSCB "Zernobank"	A
JSCB “Russian Land Bank”	B+
JSCC "Econombank"	A
JV Bank «ROSSIYA»	A+
Kamsky commercial bank	A
Kazan Bank	A
Khakassky Municipal Bank	A
Kholmsk Bank	A
Klientsky Bank	A
Kredit Ural Bank	A+
Kurskprombank	A
LLC “Bank BCC-Moscow”	A
MAST-Bank	A
Master-Bank	A
METKOMBANK	A
MORDOVPROMSTROYBANK	B++
Morskoy Bank	A
MOSCOMBANK	B++
Moscow Neftekhimichesky Bank	A
Moskovskii Industrialnyi Bank	A
National Mortgage Bank	A
NB Trust	A
Nomos-Regiobank	A
Nota-bank	A+
Novikombank	A+
OJSC JSCB «INTERNATIONAL FINANCIAL CLUB»	A
OPM-Bank	B++
Peresvet Bank	A+
Petrocommerce	A+
Ppromenergobank	A
PRADO-BANK	B++
Profit Bank	B++
Radiotechbank	A
Regional bank of development	B++
Regionalnyi Credit	A
RFI Bank	B++
Rosavtobank	A
Rus-bank	A
Russian Commercial Bank	B++
Russtroybank	A
Severgazbank	A
Siboilbank	A
SIBSOTSBANK	A
SINKO-BANK	A
SLAVIA Bank	A
Sovkombank	A
StarBank	B++
Stroylesbank	A
Tatfondbank	A
TEMBR-bank	A
Tikhookeansky Vneshtorgbank	A
Trade Construction Bank	B++
Transcapitalbank	A+
Transportny Bank	A
Transstroybank	A
Tveruniversalbank	A
Unikor Bank	B++
UNited Bank of Industrial Investments	B+
UralKapitalBank	B+
Volgo-okskiy Commercial Bank	A
Vologzhanin Bank	A
Zapsibkombank	A+
Zemsky Bank	B++
СВ "Financial Standard"	A
“Promselhozbank” Ltd	B++
«North Credit Bank»	A

NSPF credibility rating	mark for export
Almaznaya osen	A
Atomgarant	A+
Big pension fund	A
Blagosostoyanie	A++
Gazfond	A++
Khanty-Mansiysky refinery	A
KIT Finance PPF	A+
LUKoil-Garant	A++
Military-industrial fund	A
National pension fund	A+
Neftegarant	A
NFP "Obrazovanie"	A
NPF Sberegatelnogo banka	A++
NPF Surgutneftegaz	A++
NPF Transneft	A++
NPF «Savings Fund RESO»	A
Orenburg Private Pension Fund "Doverie"	A
Power industry NPF	A++
Promagrofund	A+
Raiffeisen	A+
Renaissance Life & Pensions	A+

NSPF credibility rating	mark for export
Stalfund	A+
Telecom-Soyuz	A++
The First national PF	A
TNK-Vladimir	A+
UralSib PF	A
VTB Pension Fund	A+

Reliability rating of insurance companies	mark for export
Adonis	A
AlfaStrakhovanie	A++
Allianz	A++
Angara	A
ARTEKS	A
ASKO Insurance Group	A
ASKO-Center	A
Avesta	B
British insurance house	B+
BTA Insurance Company	A++
Chulpan	A+
D2 Strakhovanie	A
DalZHASO	A
Energogarant	A++
Ergo rus	A+
Europolicy	A
Express Garant	B++
Extraordinary Insurance Company	A+
Gaide	A
Gefest	A+
Gelios Reserve	B++
Generali PPF general insurance	A+
Geopolis	A
Guta-Strakhovanie	A+
IC «Chartis»	A+
IC «Fjord»	A
IC «Investment and Finance»	A
Ingosstrakh	A++
Insurance business group	B++
Insurance Center «SPUTNIK»	A
Insurance group UralSib	A+
IС Ekaterinburg	A
KAMA RE	A
Kapital Group	A++
MAKS	A++
Medexpress	A+
Mezhregiongarant	A
Moskovia Insurance Company	B++
MSK Insurance Group	A+
NASKO Tatarstan	A
National insurance group	A
NSG - Rosenergo	B++
Oranta	A
Pari	A+
Prominstrakh	B++
Railway insurance fund	B++
Renaissance Insurance group	A++
reso garantia	A++
Rosles-Re	B++
RSC Sterkh	A
RSTK	B++
Russian Insurance Centre	A
Russian State Insurance Company Rosgosstrakh	A++
Samara Insurance Group	B++
SK ALROSA	A+
SK Transneft	A++
SOGAZ	A++
Soglasiye	A+
Surgutneftegaz Insurance company	A+
The First insurance company	A
TIT	A+
United Insurance Company	A
UzhUral-ASKO	A
UZhURALZhASO	A
VSK	A++
VTB Insurance	A++
Yugoria	A+
ZHASO	A+
Zurich-Rus	A+

Reliability rating of life insurance companies	mark for export
Allianz ROSNO Life	A++
ERGO Zhizn	A
Ingosstrakh-life	A+
Renaissance Life	A+
Rosgosstrakh Life	A+
SOGAZ-ZhIZN	A++

Companies credit ratings	mark for export
	A+
Atlantic Restructuring Company Limited	A
ChelPipe	A
Dhignfinolhu Holding Limited	A
Eurasian Oil and Gas Resources Limited	A
First Pacific Investment Corporation Limited	A
GasEnergo Finance Limited	A
InVest-Polis	A
JSC «REPH»	A
My Clinic	A
narzan	A
National Media Group	A
NefteTransService	A+
Obuv Rossii	A
Obuvrus	A
OJSC NBCO “Richford Credit”	B++
Perm Engine Company	A
Promtransinvest	A+
Rusal	A+
RUSAL Bratsk	A+
Russneft Oil & Gas Company	A+
SETL Group	A
Sistema	A+
SOGAZ Tower	A
SPA "Science"	A+
TransM	A
Tuva Mining Company	A
United confectioners Holding	A+
UTair-Finance	A
Vivat-trade	B++
Worldwide Prime Credit Management Limited	A
Yakutuglestroy	A
ОМZ	A

Regions credit rating	mark for export
Moscow	A++
Omsk province	A+

Rating of Factor companies

mark for export

Leasing company solvency rating	mark for export
Alians-Leasing	A+
BelFin	B++
Client Leasing Company	A
EconomLeasing	B++
Element Leasing	A
Gazprombank-Leasing	A+
Interregional Investment leasing company	B+
Intersectoral Leasing Company	A
Petersburg Leasing Company	B+
RAF-Leasing	A
Stone XXI	A
Technoleasing	B++
TransFin-M Leasing Company	B++
URALSIB Leasing Company	A+

Rating of guarantee coverage quality	mark for export
ESFY	A+
FSE Credit Assistance of Moscow	A++
GFCR	A
GFSK	A
GFSO	A+
Guarantee Fund for Entrepreneurship Support Karachai-Cherkess Republic	B++
Guarantee Fund of Small Business of the Kurgan region	B++
KRASMB	A
ROFPMP	A

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Rating of Services and Management Quality

Corporate bonds rating	mark for export
Commercial bank "Sudostroitelny bank" (LTD)	A+
Commercial bank "Sudostroitelny bank" (LTD)	A+
Commercial bank "Sudostroitelny bank" (LTD)	A+
Eden Water Financial Solutions	A
Eden Water Financial Solutions	A
Nota-bank	A+
Novikombank	A+
Novikombank	A+
Petrocommerce	A+
Petrocommerce	A+
Petrocommerce	A+
Petrocommerce	A+
Tatfondbank	A
Tatfondbank	A
Tatfondbank	A
Tatfondbank	A
Tatfondbank	A
Tatfondbank	A
Transcapitalbank	A+

Individual rating of managing companies	mark for export
Alfa-Capital	A++
Allianz ROSNO Asset Management	A++
Asset Management Company of pension fund Leader	A++
Aton-management	A++
BFA Asset Management	A+
Busibess-partner XXI century	B++
Capital	A++
Collective Investments	A+
EUROFINANCE Asset Management	A
Ingosstrakh-Investments	A++
Invest-Management	A
Kapital Asset Management	A++
Kapital PIF	A++
Libra Сapital	A+
Management Company TRINFICO	A+

Individual rating of managing companies	mark for export
Management Company UralSib (JSC)	A++
Portfolio investment	A+
Raiffeisen Capital	A++
REGION Asset Management	A+
Region Development	A+
RONIN Trust	A+
Rus-Kapital	A+
RWM Capital	A+
SOLID Management	A+
TKB BNP Paribas Investment Partners	A++
TRINFICO	A+
TRINFICO Property Management	A+
Troika Dialog	A++
UK "SPUTNIK-UPRAVLENIYE KAPITALOM"	A+
UK MDM	A
URALSIB Asset Management	отозван
Uralsib Management company	A++
VTB Asset Management	A++

Corporate governance rating	mark for export
JSC "Generating company"	7
JSC «RAO Energy System of East»	8
Kuban-energo	7
MRSK North Caucasus	7
UTair Aviation	6+
Vodokanal of Saint-Petersburg	7+

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Expert-RA Rating Agency presents classic credit ratings of companies from all branches of economy - regional and municipal - and ratings describing different aspects of corporate and social responsibility: corporate governance rating, environmental liability rating.

Besides that, our Agency regularly prepares and publishes ranking lists (rankings) of the largest Russian companies and leaders in separate sectors of economy as well as ratings of regional investments attractiveness.

Credit ratings

First ratings were assigned by Expert RA in 2001. The main purpose of credit ratings is to present all-round independent assessment of credit standing of companies and regions.

Currently Expert RA credit ratings have been assigned to over 200 companies from real and financial sectors of economy (including companies from Eastern Europe, CIS and Baltic states), as well as to the Russian Federation regions.

Credit ratings are assigned based on Expert RA own methodology, that takes into account specifics of the Russian economy. The Agency’s methodology was approved by leading international auditing-consulting companies PricewaterhouseCoopers and Deloitte&Touche.

Expert RA, same as other national rating agencies, operates in consistence with the Basel committee recommendations.

Ratings of separate aspects of companies' social responsibility

Purely business information is nowadays insufficient for making investment decisions - potential investors also require assessment of a company’s social life, including its interaction with shareholders, society in general, attitude towards environment.

As of 2003 Expert RA Rating Agency has assigned to companies ratings of environmental liability, allowing a reliable assessment of environment-related activity. Our methodology was approved by the World Wildlife Fund and other non-governmental environmental organizations. Ratings of environmental liability have been currently assigned to 30 companies.

In 2004 the Agency in consortium with the Russian Institute of Directors (RID) has embarked on a "National rating of corporate governance" project. The project is characterized by giving broad range of domestic companies and permits to form a judgment related to quality of corporate governance in almost all Russian joint-stock companies of interest for portfolio investors. Currently corporate governance rating of Expert RA-RID consortium has been assigned to 150 companies.

Lists of economic branches' largest companies and leaders

Since its establishment Expert RA Rating Agency has been regularly preparing and publishing ranking lists (rankings) of the largest Russian companies (including the most significant list of the largest Russian companies "Expert-400"), as well as information on leaders in different segments of the Russian economy (IT, insurance and leasing, auditing-consulting, etc).

The results constitute good ground for analysis of the Russian economy in general and its branches in particular.

Investment ratings of regions

Since 1996 Expert RA Rating Agency has been annually preparing and publishing the rating of investment attractiveness of the Russian regions. The rating methodology is based on assessing investment potential and risks in each region of the Russian Federation. The investment attraction rating has been approved by federal and regional authorities, investors and business communities as a reliable instrument, providing for analysis of regional trends and proper investment decisions.

Besides assessing the level of investment attractiveness of the Russian Federation regions, Expert RA Rating Agency estimates investment and business climate of municipalities formations and CIS countries. Recently the Agency has prepared the rating of business climate in large Russian cities, as well as investment rating in Kazakhstan regions.