Statistics of defaults

In accordance with paragraph 11 of the Procedure for Providing Information by Authorized Rating Agencies approved by the Decision of the National Commission on Securities and Stock Market (NCSSM) dated December 11, 2012, No. 1767, NRA "Rurik" publishes a report on its own page on the Internet within 90 calendar days after the end of each calendar half-year regarding the number of defaults by rating levels of the National Scale.

The report indicates the number of issuers who had an active credit rating from the agency on the date of default, for obligations of which a default occurred during the reporting half-year, broken down by rating levels (uaAAA, uaAA, uaA, uaBBB, uaBB, uaB, uaCCC, uaCC, uaC) to which the ratings of the respective issuers (or ratings of individual obligations for which a default occurred) belonged during the 6 months prior to the date of default.

In addition, within 6 calendar months from the date of an issuer's default with an investment-grade long-term credit rating, NRA "Rurik" submits an explanation of the reasons for such default to the Commission and publishes it on its own page on the Internet.

Approaches to recording defaults for various types of rating objects based on an analysis of current legislation are outlined in a special study by NRA "Rurik" titled "Determining Defaults by Types of Securities Issuers."