ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of February 17, 2020 No. 162

About modification of the Order of the Government of the Russian Federation of January 20, 2014 No. 40

The government of the Russian Federation decides:

Bring in the order of the Government of the Russian Federation of January 20, 2014 No. 40 "About requirements to the minimum level of credit ratings of subjects of the Russian Federation" (The Russian Federation Code, 2014, No. 4, the Art. 387) the following changes:

a) add the name with the words "and municipalities";

b) in word preamble "According to Articles 104 and 104.1 of the Budget code of the Russian Federation and part 3 of article 6 of the Federal law "About Features of Issue and the Address State and Municipal Securities" to exclude;

c) state Item 1 in the following edition:

"1. Determine that internal borrowings in the form of release of government securities (municipal securities) are performed by the subject of the Russian Federation (municipality) on condition of availability at the borrower of credit rating not lower than the BBB-(RU) level on national rating scale for the Russian Federation from Analytical Credit Rating Agency (Joint-stock company) and (or) "ruBBB-" on national rating scale for the Russian Federation from Joint-stock company "Expert RA Rating agency.

Determine that external borrowings are performed by the subject of the Russian Federation on condition of availability at the borrower of credit rating at the AAA(RU) level on national rating scale for the Russian Federation from Analytical Credit Rating Agency (Joint-stock company) and (or) "ruAAA" on national rating scale for the Russian Federation from Expert RA Rating Agency. Joint-stock company.

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