РУСАЛ 1Р3

Yield per half year: 0%
Category: Корпоративные

Yield to maturity

Denomination: 1000 cny
Price % of denomination: 0 %
NKD: 99.6 cny
Yield to maturity: 0%
Coupon yield: 3.55%
Coupon: 8.85 cny
Coupon once of year: 4.01

Grade

Quality: 5/10
BQ = (R(ROE) + R(NetDebt/Equity) + R(Earnings variability)) / 3
Liquidity index: -40.08/10
Li = (Lbasei - min(Lbase)) / (max(Lbase) - (min(Lbase))
Lbasei = (𝑉𝑖 / 𝑉)^2, where
Li - final value of the liquidity index
𝑉𝑖 - average daily trading volume for the i-th instrument for the previous 30 trading days
𝑉 - average daily trading volume for all instruments for the previous 30 trading days
Li = (0 - 0.9074014124534) / (1.1337993918781 - 0.9074014124534)

Credit rating

Credit rating Акра: A+(RU)
Credit rating Эксперт: ruA+
Credit rating Fitch: B+
Credit rating Moody: Ba3

Altman index

In 1968, Professor Edward Altman proposed his now classic five-factor model for predicting the likelihood of enterprise bankruptcy. The formula for calculating the integral indicator is as follows:
Z = 1.2*X1 + 1.4*X2 + 3.3*X3 + 0.6*X4 + X5
X1 = Working capital/Assets, X2 = Retained earnings/Assets, X3 = Operating profit/Assets, X4 = Market value of shares/Liabilities, X5 = Revenue/Assets
If Z > 2.9 – zone of financial stability (“green” zone).
If 1.8 < Z <= 2.9 – zone of uncertainty (“gray” zone).
If Z <= 1.8 – financial risk zone (“red” zone).
Altman index, Z-Score = 1.2 * 0.34 + 1.4 * 0.01 + 3.3 * 0.03 + 0.6 * 1.92 + 0.57 = 2.264

Evstropov index

Y = 0.25 - 14.64 * R1 - 1.08 * R2 - 130.08 * R3
where Y is the calculated coefficient; R1 - the ratio of profit before taxes and interest to total assets; R2 is the growth rate of sales revenue in the reporting year; R3 - absolute liquidity ratio (ratio of cash to current liabilities).
P = 1 / (1 + e^-Y) - probability of opening a bankruptcy procedure
Evstropov index, Y = 0.25 - 14.64 * 0.03 - 1.0.8 * 0.13 - 130.08 * 0.27 = -34.8867
P = 1 / (1 + e^34.8867) = 0%