Fitch assigns National Clearing Centre "BBB-" with a Stable Outlook

Fitch Ratings has assigned National Clearing Centre (NCC) Long-term Issuer Default Ratings (IDRs) of "BBB-" with a Stable Outlook and a Viability Rating (VR) of "bb+".

For detailed information, please visit the NCC's website.

CJSC JSCB National Clearing Centre (hereinafter NCC) is a subsidiary of the Moscow Exchange Group performing functions of a clearing organization and the central counterparty in the financial market. Since December 2007, NCC has been rendering clearing services in the Group's FX market, and since November 2011 — in its securities market.

As central counterparty, NCC assumes the risks under the transactions concluded by the participants during the on exchange trading, acting as intermediary between the parties: i.e. as the seller for each buyer and as the buyer for each seller, which so replace their contractual relations with each other with relevant contracts with the central counterparty.

For further information, please contact the Public Relations Department at (495) 363-3232.