11 марта 2013 Aлма максутова АО НУРБАНК 51-53
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Standard & Poor’s Credit Market Services Europe Ltd. (Niederlassung Deutschland) Neue Mainzer Str. 52 60311 Frankfurt am Main Tel. +49 (0) 69-33 999-0 11 ɦɚɪɬɚ 2013 Aɥɦɚ Ɇɚɤɫɭɬɨɜɚ ȺɈ ɇɍɊȻȺɇɄ 51-53 Ⱥɛɵɥɚɣ ɏɚɧ Aɥɦɚɬɵ, 050004 Kɚɡɚɯɫɬɚɧ ȺɈ ɇɍɊȻȺɇɄ x Ʉɭɩɨɧɧɵɟ ɨɛɥɢɝɚɰɢɢ ɧɚ ɫɭɦɦɭ 5 ɦɥɪɞ ɬɟɧɝɟ ɫ ɩɥɚɜɚɸɳɟɣ ɫɬɚɜɤɨɣ ɤɭɩɨɧɚ ɫɨ ɫɪɨɤɨɦ ɩɨɝɚɲɟɧɢɹ 24 ɹɧɜɚɪɹ 2015ɝ. x Ʉɭɩɨɧɧɵɟ ɨɛɥɢɝɚɰɢɢ ɧɚ ɫɭɦɦɭ 10 ɦɥɪɞ ɬɟɧɝɟ ɫ ɮɢɤɫɢɪɨɜɚɧɧɨɣ ɫɬɚɜɤɨɣ ɤɭɩɨɧɚ 11% ɫɨ ɫɪɨɤɨɦ ɩɨɝɚɲɟɧɢɹ 5 ɧɨɹɛɪɹ 2013ɝ. x Ʉɭɩɨɧɧɵɟ ɧɟɫɭɛɨɪɞɢɧɢɪɨɜɚɧɧɵɟ ɨɛɥɢɝɚɰɢɢ ɧɚ ɫɭɦɦɭ 16 ɦɥɪɞ ɬɟɧɝɟ ɫ ɫ ɮɢɤɫɢɪɨɜɚɧɧɨɣ ɫɬɚɜɤɨɣ ɤɭɩɨɧɚ 7% ɫɨ ɫɪɨɤɨɦ ɩɨɝɚɲɟɧɢɹ 26 ɢɸɥɹ 2016ɝ. Ⱦɨɤɭɦɟɧɬɚɰɢɹ ɩɨɥɭɱɟɧɚ 4 ɦɚɪɬɚ 2013. ɍɜɚɠɚɟɦɚɹ ɝ-ɠɚ Ɇɚɤɫɭɬɨɜɚ! ȼ ɨɬɜɟɬ ɧɚ ȼɚɲ ɡɚɩɪɨɫ ɨ ɩɪɢɫɜɨɟɧɢɢ ɪɟɣɬɢɧɝɨɜ ɜɵɲɟɭɤɚɡɚɧɧɵɦ ɜɵɩɭɫɤɚɦ ɰɟɧɧɵɯ ɛɭɦɚɝ ɤɨɦɩɚɧɢɹ Standard and Poor’s Credit Market Services Europe Limited (ɞɚɥɟɟ — Standard & Poor’s) ɩɪɢɫɜɨɢɥɚ ɫɥɟɞɭɸɳɢɟ ɤɪɟɞɢɬɧɵɟ ɪɟɣɬɢɧɝɢ ɩɨ ɧɚɰɢɨɧɚɥɶɧɨɣ ɲɤɚɥɟ: «kzBB+» ɢ ɩɨ ɝɥɨɛɚɥɶɧɨɣ ɲɤɚɥɟ: «B». ɇɚɫɬɨɹɳɢɦ ɩɢɫɶɦɨɦ ɤɨɦɩɚɧɢɹ Standard & Poor’s ɩɪɟɞɨɫɬɚɜɥɹɟɬ ȼɚɦ ɩɪɚɜɨ ɩɟɪɟɞɚɜɚɬɶ ɢɧɮɨɪɦɚɰɢɸ ɨ ɩɪɢɫɜɨɟɧɧɵɯ ɪɟɣɬɢɧɝɚɯ ɡɚɢɧɬɟɪɟɫɨɜɚɧɧɵɦ ɥɢɰɚɦ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɞɟɣɫɬɜɭɸɳɢɦ ɡɚɤɨɧɨɞɚɬɟɥɶɫɬɜɨɦ ɢ ɪɟɝɭɥɢɪɨɜɚɧɢɟɦ. Ɉɞɧɚɤɨ ɞɚɧɧɨɟ ɩɪɚɜɨ (ɡɚ ɢɫɤɥɸɱɟɧɢɟɦ ɪɚɡɝɥɚɲɟɧɢɹ ɩɪɨɮɟɫɫɢɨɧɚɥɶɧɵɦ ɤɨɧɫɭɥɶɬɚɧɬɚɦ, ɫɜɹɡɚɧɧɵɦ ɫɨɨɬɜɟɬɫɬɜɭɸɳɢɦɢ ɭɫɥɨɜɢɹɦɢ ɫɨɛɥɸɞɟɧɢɹ ɤɨɧɮɢɞɟɧɰɢɚɥɶɧɨɫɬɢ) ɦɨɠɟɬ ɛɵɬɶ ɨɫɭɳɟɫɬɜɥɟɧɨ ɬɨɥɶɤɨ ɩɨɫɥɟ ɩɭɛɥɢɤɚɰɢɢ ɬɚɤɢɯ ɪɟɣɬɢɧɝɨɜ ɧɚ ɜɟɛ-ɫɚɣɬɟ standardandpoors.com. ɉɪɢ ɪɚɫɩɪɨɫɬɪɚɧɟɧɢɢ ɢɧɮɨɪɦɚɰɢɢ ɨ ɪɟɣɬɢɧɝɚɯ ɜ ɥɸɛɨɣ ɮɨɪɦɟ ɧɚ ɥɸɛɨɦ ɜɟɛ-ɫɚɣɬɟ ȼɵ ɢɥɢ ȼɚɲɢ ɩɪɟɞɫɬɚɜɢɬɟɥɢ ɞɨɥɠɧɵ ɩɪɟɞɨɫɬɚɜɥɹɬɶ ɩɨɥɧɵɣ ɪɟɣɬɢɧɝɨɜɵɣ ɨɬɱɟɬ ɨ ɩɪɨɢɡɜɟɞɟɧɧɨɦ ɚɧɚɥɢɡɟ, ɜɤɥɸɱɚɹ ɜɫɟ ɟɝɨ ɨɛɧɨɜɥɟɧɢɹ (ɩɪɢ ɧɚɥɢɱɢɢ). ȼ ɬɨɣ ɦɟɪɟ, ɜ ɤɨɬɨɪɨɣ ɪɟɝɭɥɢɪɭɸɳɢɟ ɨɪɝɚɧɵ ɭɩɨɥɧɨɦɨɱɢɜɚɸɬ ɪɟɣɬɢɧɝɨɜɵɟ ɚɝɟɧɬɫɬɜɚ ɩɪɢɡɧɚɜɚɬɶ ɜ ɨɩɪɟɞɟɥɟɧɧɵɯ ɪɟɝɭɥɹɬɨɪɧɵɯ ɰɟɥɹɯ ɪɟɣɬɢɧɝɢ, ɩɪɢɫɜɨɟɧɧɵɟ ɜ ɞɪɭɝɨɣ ɸɪɢɫɞɢɤɰɢɢ, Standard & Poor’s ɜɩɪɚɜɟ ɩɪɢɡɧɚɜɚɬɶ ɬɚɤɢɟ ɪɟɣɬɢɧɝɢ ɢ ɩɭɛɥɢɤɨɜɚɬɶ ɫɨɨɬɜɟɬɫɬɜɭɸɳɢɟ ɪɟɲɟɧɢɹ ɧɚ ɜɟɛ-ɫɚɣɬɟ www.standardandpoors.com ɫ ɩɪɢɦɟɧɟɧɢɟɦ ɚɥɮɚɜɢɬɧɨɝɨ ɢɥɢ ɢɧɨɝɨ ɢɞɟɧɬɢɮɢɤɚɬɨɪɚ, ɚ ɬɚɤɠɟ ɥɸɛɵɦ ɞɪɭɝɢɦ ɫɩɨɫɨɛɨɦ. Ⱦɥɹ ɩɨɞɞɟɪɠɚɧɢɹ ɪɟɣɬɢɧɝɨɜ ɤɨɦɩɚɧɢɢ Standard & Poor’s ɧɟɨɛɯɨɞɢɦɨ ɩɨɥɭɱɚɬɶ ɜɫɸ ɧɟɨɛɯɨɞɢɦɭɸ ɢɧɮɨɪɦɚɰɢɸ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɩɨɥɨɠɟɧɢɹɦɢ Ɉɛɳɢɯ ɍɫɥɨɜɢɣ. ɇɚɫɬɨɹɳɢɦ ȼɵ ɩɨɞɬɜɟɪɠɞɚɟɬɟ ɩɨɧɢɦɚɧɢɟ ɬɨɝɨ, ɱɬɨ Standard & Poor’s ɩɨɥɚɝɚɟɬɫɹ ɧɚ ȼɚɫ ɢ ȼɚɲɢɯ ɚɝɟɧɬɨɜ ɢ ɤɨɧɫɭɥɶɬɚɧɬɨɜ ɜ ɨɬɧɨɲɟɧɢɢ ɬɨɱɧɨɫɬɢ, ɩɨɥɧɨɬɵ ɢ ɫɜɨɟɜɪɟɦɟɧɧɨɫɬɢ ɢɧɮɨɪɦɚɰɢɢ, ɩɪɟɞɨɫɬɚɜɥɹɟɦɨɣ ɜ ɫɜɹɡɢ ɫ ɩɪɢɫɜɨɟɧɢɟɦ ɪɟɣɬɢɧɝɨɜ, ɢ ɞɚɥɶɧɟɣɲɢɯ ɫɜɟɞɟɧɢɣ, ɧɟɨɛɯɨɞɢɦɵɯ ɞɥɹ ɢɯ ɩɨɞɞɟɪɠɚɧɢɹ. ȼɫɸ ɢɧɮɨɪɦɚɰɢɸ ɩɪɨɫɢɦ ɧɚɩɪɚɜɥɹɬɶ ɜ ɷɥɟɤɬɪɨɧɧɨɦ ɜɢɞɟ ɩɨ ɚɞɪɟɫɭ: annette_ess@standardandpoors.com. ȼ ɫɥɭɱɚɟ ɩɪɢɦɟɧɢɦɨɫɬɢ ɩɪɚɜɢɥɚ 17g-5 Ʉɨɦɢɫɫɢɢ ɩɨ ɰɟɧɧɵɦ ɛɭɦɚɝɚɦ ɢ ɛɢɪɠɚɦ ȼɵ ɜɩɪɚɜɟ ɨɩɭɛɥɢɤɨɜɚɬɶ ɬɚɤɭɸ ɢɧɮɨɪɦɚɰɢɸ ɧɚ ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɦ ɜɟɛ-ɫɚɣɬɟ. ɉɪɢ ɨɬɫɭɬɫɬɜɢɢ ɢɧɮɨɪɦɚɰɢɢ ɜ ɷɥɟɤɬɪɨɧɧɨɣ ɮɨɪɦɟ ɢɥɢ ɧɚ ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɦ ɜɟɛ-ɫɚɣɬɟ ɩɪɨɫɢɦ ȼɚɫ ɧɚɩɪɚɜɥɹɬɶ ɩɟɱɚɬɧɵɟ ɜɟɪɫɢɢ ɞɨɤɭɦɟɧɬɨɜ ɩɨ ɚɞɪɟɫɭ: Standard and Poor’s Credit Market Services Europe Limited, Standard & Poor’s Credit Market Services Europe Limited (Niederlassung Deutschland), Neue Mainzer Strasse 52, 60311 Frankfurt/Main, Germany, Attention: Annette Ess. Ɋɟɣɬɢɧɝ ɩɪɟɞɨɫɬɚɜɥɹɟɬɫɹ ɧɚ ɨɫɧɨɜɚɧɢɢ Ɉɛɳɢɯ ɍɫɥɨɜɢɣ, ɹɜɥɹɸɳɢɯɫɹ ɩɪɢɥɨɠɟɧɢɟɦ ɤ ɫɨɨɬɜɟɬɫɬɜɭɸɳɟɦɭ ɋɨɝɥɚɲɟɧɢɸ. ɉɪɢ ɨɬɫɭɬɫɬɜɢɢ ɬɚɤɨɝɨ ɋɨɝɥɚɲɟɧɢɹ ɢ Ɉɛɳɢɯ ɍɫɥɨɜɢɣ ɪɟɣɬɢɧɝ ɩɪɟɞɨɫɬɚɜɥɹɟɬɫɹ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ Ɉɛɳɢɦɢ ɍɫɥɨɜɢɹɦɢ, ɩɪɢɥɚɝɚɟɦɵɦɢ ɤ ɧɚɫɬɨɹɳɟɦɭ ɩɢɫɶɦɭ. Ⱦɟɣɫɬɜɭɸɳɢɟ Ɉɛɳɢɟ ɍɫɥɨɜɢɹ ɞɨɫɬɭɩɧɵ ɩɨ ɫɫɵɥɤɟ, ɩɪɢɜɟɞɟɧɧɨɣ ɜ ɧɚɫɬɨɹɳɟɦ ɞɨɤɭɦɟɧɬɟ. Ɇɵ ɪɚɞɵ ɩɪɟɞɫɬɚɜɥɟɧɧɨɣ ɜɨɡɦɨɠɧɨɫɬɢ ɩɪɟɞɥɨɠɢɬɶ. ȼɚɦ ɫɜɨɢ ɭɫɥɭɝɢ ɩɨ ɩɪɢɫɜɨɟɧɢɸ ɪɟɣɬɢɧɝɨɜ. Ȼɨɥɟɟ ɩɨɞɪɨɛɧɭɸ ɢɧɮɨɪɦɚɰɢɸ ɫɦɨɬɪɢɬɟ ɧɚ ɜɟɛ-ɫɚɣɬɟ ɤɨɦɩɚɧɢɢ: www.standardandpoors.com. ȼ ɫɥɭɱɚɟ ɜɨɡɧɢɤɧɨɜɟɧɢɹ ɜɨɩɪɨɫɨɜ ɨɛɪɚɳɚɣɬɟɫɶ, ɩɨɠɚɥɭɣɫɬɚ, ɤ ɩɪɟɞɫɬɚɜɢɬɟɥɹɦ Standard & Poor’s. Ȼɥɚɝɨɞɚɪɢɦ ɡɚ ɫɨɬɪɭɞɧɢɱɟɫɬɜɨ ɫ ɤɨɦɩɚɧɢɟɣ Standard & Poor’s. ɋ ɭɜɚɠɟɧɢɟɦ, Ɋɟɣɬɢɧɝɨɜɚɹ ɫɥɭɠɛɚ Standard & Poor’s, ɛɢɡɧɟɫ-ɩɨɞɪɚɡɞɟɥɟɧɢɟ ɤɨɦɩɚɧɢɢ Standard & Poor’s Financial Services LLC Ⱥɧɚɥɢɬɢɤ Ɏ.ɂ.Ɉ.: Ⱥɧɟɬɚ ɗɫɫ Ɍɟɥɟɮɨɧ: +49 (0) 69 33 999 157 Standard & Poor’s Ratings Services Terms and Conditions Applicable To Corporate Ratings Ɉɛɳɢɟ ɍɫɥɨɜɢɹ, ɩɪɢɦɟɧɢɦɵɟ ɤ Ʉɨɪɩɨɪɚɬɢɜɧɵɦ Ɋɟɣɬɢɧɝɚɦ ɉɨɞɪɚɡɞɟɥɟɧɢɹ Ɋɟɣɬɢɧɝɨɜɵɯ ɍɫɥɭɝ Standard & Poor’s 1. Scope of Rating The Company understands and agrees that (i) an issuer rating reflects Standard & Poor’s current opinion of the Company’s overall financial capacity to pay its financial obligations as they come due, (ii) an issue rating reflects Standard & Poor’s current opinion of the likelihood that the Company will make payments of principal and interest on a timely basis in accordance with the terms of the obligation, (iii) a rating is an opinion and is not a verifiable statement of fact, (iv) ratings are based on information supplied to Standard & Poor’s by the Company or by its agents and upon other information obtained by Standard & Poor’s from other sources it considers reliable, (v) Standard & Poor’s does not perform an audit in connection with any rating and a rating does not represent an audit by Standard & Poor’s, (vi) Standard & Poor’s relies on the Company, its accountants, counsel, and other experts for the accuracy and completeness of the information submitted in connection with the rating and surveillance process, (vii) Standard & Poor’s undertakes no duty of due diligence or independent verification of any information, (viii) Standard & Poor’s does not and cannot guarantee the accuracy, completeness, or timeliness of the information relied on in connection with a rating or the results obtained from the use of such information, (ix) Standard & Poor’s may raise, lower, suspend, place on CreditWatch, or withdraw a rating at any time, in Standard & Poor’s sole discretion, and (x) a rating is not a "market" rating nor a recommendation to buy, hold, or sell any financial obligation. 1. Ɋɟɣɬɢɧɝ Ʉɨɦɩɚɧɢɹ ɩɨɧɢɦɚɟɬ ɢ ɫɨɝɥɚɫɧɚ, ɱɬɨ: (i) ɪɟɣɬɢɧɝ ɷɦɢɬɟɧɬɚ ɨɬɪɚɠɚɟɬ ɬɟɤɭɳɟɟ ɦɧɟɧɢɟ Standard & Poor’s ɨ ɮɢɧɚɧɫɨɜɨɣ ɫɩɨɫɨɛɧɨɫɬɢ Ʉɨɦɩɚɧɢɢ ɫɜɨɟɜɪɟɦɟɧɧɨ ɢɫɩɨɥɧɹɬɶ ɫɜɨɢ ɩɥɚɬɟɠɧɵɟ ɨɛɹɡɚɬɟɥɶɫɬɜɚ, (ii) ɪɟɣɬɢɧɝ ɞɨɥɝɨɜɨɝɨ ɨɛɹɡɚɬɟɥɶɫɬɜɚ ɨɬɪɚɠɚɟɬ ɬɟɤɭɳɟɟ ɦɧɟɧɢɟ Standard & Poor’s ɨ ɜɟɪɨɹɬɧɨɫɬɢ ɫɜɨɟɜɪɟɦɟɧɧɨɣ ɜɵɩɥɚɬɵ ɨɫɧɨɜɧɨɝɨ ɞɨɥɝɚ ɢ ɩɪɨɰɟɧɬɨɜ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɢɯ ɭɫɥɨɜɢɹɦɢ, (iii) ɪɟɣɬɢɧɝ ɹɜɥɹɟɬɫɹ ɦɧɟɧɢɟɦ ɢ ɧɟ ɹɜɥɹɟɬɫɹ ɭɫɬɚɧɨɜɥɟɧɢɟɦ ɮɚɤɬɚ, ɤɨɬɨɪɵɣ ɦɨɠɟɬ ɛɵɬɶ ɩɪɨɜɟɪɟɧ; (iv) ɪɟɣɬɢɧɝɢ ɨɫɧɨɜɚɧɵ ɧɚ ɢɧɮɨɪɦɚɰɢɢ, ɩɪɟɞɨɫɬɚɜɥɟɧɧɨɣ Standard & Poor’s Ʉɨɦɩɚɧɢɟɣ ɢɥɢ ɟɟ ɚɝɟɧɬɚɦɢ, ɢ ɧɚ ɞɪɭɝɨɣ ɢɧɮɨɪɦɚɰɢɢ, ɩɨɥɭɱɟɧɧɨɣ Standard & Poor’s ɢɡ ɞɪɭɝɢɯ ɢɫɬɨɱɧɢɤɨɜ, ɤɨɬɨɪɵɟ ɨɧɚ ɫɨɱɬɟɬ ɧɚɞɟɠɧɵɦɢ; (v) Standard & Poor’s ɧɟ ɩɪɨɜɨɞɢɬ ɚɭɞɢɬ ɜ ɫɜɹɡɢ ɫ ɩɪɢɫɜɨɟɧɢɟɦ ɥɸɛɨɝɨ ɪɟɣɬɢɧɝɚ ɢ ɪɟɣɬɢɧɝ ɧɟ ɹɜɥɹɟɬɫɹ ɚɭɞɢɬɨɪɫɤɨɣ ɩɪɨɜɟɪɤɨɣ Standard & Poor’s; (vi) Standard & Poor’s ɩɨɥɚɝɚɟɬ, ɱɬɨ ɬɨɱɧɨɫɬɶ ɢ ɩɨɥɧɨɬɚ ɢɧɮɨɪɦɚɰɢɢ, ɩɪɟɞɨɫɬɚɜɥɟɧɧɨɣ ɞɥɹ ɩɪɢɫɜɨɟɧɢɹ ɪɟɣɬɢɧɝɚ ɢ ɞɥɹ ɧɚɛɥɸɞɟɧɢɹ ɡɚ ɧɢɦ ɛɵɥɚ ɩɪɨɜɟɪɟɧɚ Ʉɨɦɩɚɧɢɟɣ, ɟɟ ɛɭɯɝɚɥɬɟɪɚɦɢ, ɸɪɢɫɬɚɦɢ ɢ ɞɪɭɝɢɦɢ ɫɩɟɰɢɚɥɢɫɬɚɦɢ; (vii) Standard & Poor’s ɧɟ ɨɛɹɡɚɧɚ ɩɪɨɜɨɞɢɬɶ ɩɪɨɜɟɪɤɭ ɞɨɫɬɨɜɟɪɧɨɫɬɢ ɩɪɟɞɨɫɬɚɜɥɟɧɧɵɯ Ʉɨɦɩɚɧɢɟɣ ɞɨɤɭɦɟɧɬɨɜ ɢ ɢɧɮɨɪɦɚɰɢɢ; (viii) Standard & Poor’s ɧɟ ɝɚɪɚɧɬɢɪɭɟɬ ɢ ɧɟ ɦɨɠɟɬ ɝɚɪɚɧɬɢɪɨɜɚɬɶ ɬɨɱɧɨɫɬɶ, ɩɨɥɧɨɬɭ, ɨɩɟɪɚɬɢɜɧɨɫɬɶ ɢɥɢ ɞɨɫɬɨɜɟɪɧɨɫɬɶ ɢɧɮɨɪɦɚɰɢɢ, ɧɚ ɤɨɬɨɪɨɣ ɨɫɧɨɜɚɧ ɪɟɣɬɢɧɝ ɢɥɢ ɪɟɡɭɥɶɬɚɬɨɜ ɢɫɩɨɥɶɡɨɜɚɧɢɹ ɬɚɤɨɣ ɢɧɮɨɪɦɚɰɢɢ; (ix) Standard & Poor’s ɜ ɥɸɛɨɣ ɦɨɦɟɧɬ ɩɨ ɫɜɨɟɦɭ ɢɫɤɥɸɱɢɬɟɥɶɧɨɦɭ ɭɫɦɨɬɪɟɧɢɸ ɜɩɪɚɜɟ ɩɨɜɵɫɢɬɶ, ɩɨɧɢɡɢɬɶ, ɩɪɢɨɫɬɚɧɨɜɢɬɶ ɢɥɢ ɨɬɨɡɜɚɬɶ Ɋɟɣɬɢɧɝ, ɚ ɬɚɤɠɟ ɩɪɢɫɜɨɢɬɶ ɟɦɭ ɫɬɚɬɭɫ «CreditWatch»; (x) Ɋɟɣɬɢɧɝ ɧɟ ɹɜɥɹɟɬɫɹ “ɪɵɧɨɱɧɵɦ” ɪɟɣɬɢɧɝɨɦ ɢɥɢ ɪɟɤɨɦɟɧɞɚɰɢɟɣ ɩɨɤɭɩɚɬɶ, ɫɨɯɪɚɧɹɬɶ ɜɨ ɜɥɚɞɟɧɢɢ ɢɥɢ ɩɪɨɞɚɜɚɬɶ ɮɢɧɚɧɫɨɜɵɟ ɨɛɹɡɚɬɟɥɶɫɬɜɚ Ʉɨɦɩɚɧɢɢ ɢɥɢ ɢɧɨɝɨ ɥɢɰɚ. 2. ɉɭɛɥɢɤɚɰɢɹ Standard & Poor’s ɨɫɬɚɜɥɹɟɬ ɡɚ ɫɨɛɨɣ ɩɪɚɜɨ ɩɭɛɥɢɤɨɜɚɬɶ, ɪɚɫɩɪɨɫɬɪɚɧɹɬɶ, ɢɥɢ ɩɪɟɞɨɫɬɚɜɥɹɬɶ ɬɪɟɬɶɢɦ ɥɢɰɚɦ ɩɪɚɜɨ ɩɭɛɥɢɤɚɰɢɢ ɢɥɢ ɪɚɫɩɪɨɫɬɪɚɧɟɧɢɹ ɪɟɣɬɢɧɝɚ ɢ ɟɝɨ ɨɛɨɫɧɨɜɚɧɢɹ, ɟɫɥɢ Ʉɨɦɩɚɧɢɹ ɧɟ ɧɚɩɪɚɜɢɬ Standard & Poor’s ɩɢɫɶɦɟɧɧɭɸ ɩɪɨɫɶɛɭ ɨɛ ɨɛɪɚɬɧɨɦ. ȿɫɥɢ ɤɨɧɮɢɞɟɧɰɢɚɥɶɧɵɣ ɪɟɣɬɢɧɝ ɫɬɚɧɟɬ ɩɭɛɥɢɱɧɵɦ ɜɫɥɟɞɫɬɜɢɟ ɟɝɨ ɪɚɫɤɪɵɬɢɹ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ ɬɪɟɬɶɢɦ ɥɢɰɨɦ, Standard & Poor’s ɨɫɬɚɜɥɹɟɬ ɡɚ ɫɨɛɨɣ ɩɪɚɜɨ ɫɞɟɥɚɬɶ ɬɚɤɨɣ ɪɟɣɬɢɧɝ ɩɭɛɥɢɱɧɵɦ. ɉɨɥɢɬɢɤɨɣ Standard & Poor’s ɹɜɥɹɟɬɫɹ ɨɩɭɛɥɢɤɨɜɚɧɢɟ ɪɟɣɬɢɧɝɨɜ, ɩɪɢɫɜɚɢɜɚɟɦɵɯ ɩɭɛɥɢɱɧɵɦ ɜɵɩɭɫɤɚɦ ɢ ɜɵɩɭɫɤɚɦ ɩɨ ɩɪɚɜɢɥɭ 144Ⱥ ɡɚɤɨɧɨɞɚɬɟɥɶɫɬɜɚ ɋɒȺ ɨ ɰɟɧɧɵɯ ɛɭɦɚɝɚɯ ɧɚ ɪɵɧɤɟ 2. Publication Standard & Poor’s reserves the right to publish, disseminate, or license others to publish or disseminate the rating and the rationale for the rating unless the Company specifically requests that the rating be assigned and maintained on a confidential basis. If a confidential rating subsequently becomes public through disclosure by the Company or a third party other than Standard & Poor’s, Standard & Poor’s reserves the right to publish it. As a matter of policy, Standard & Poor’s publishes ratings for all public issues in the U.S. market and U.S. 144A issues with registration rights. Standard & Poor’s may publish explanations of Standard & Poor’s ratings criteria from time to time and nothing in this Agreement shall be construed as limiting Standard & Poor’s ability to modify or refine Standard & Poor’s criteria at any time as Standard & Poor’s deems appropriate. 3. Information to be Provided by the Company The Company shall meet with Standard & Poor’s for an analytic review at any reasonable time Standard & Poor’s requests. The Company also agrees to provide Standard & Poor’s promptly with all information relevant to the rating and surveillance of the rating including information on material changes to information previously supplied to Standard & Poor’s. The rating may be affected by Standard & Poor’s opinion of the accuracy, completeness, timeliness, and reliability of information received from the Company or its agents. Standard & Poor’s undertakes no duty of due diligence or independent verification of information provided by the Company or its agents. Standard & Poor’s reserves the right to withdraw the rating if the Company or its agents fails to provide Standard & Poor’s with accurate, complete, timely, or reliable information. 4. Confidential Information For purposes of this Agreement, “Confidential Information” shall mean information received by Standard & Poor’s from the Company which has been marked “Proprietary and Confidential” or in respect of which Standard & Poor’s has received from the Company specific written notice of its proprietary and confidential nature. Notwithstanding the foregoing, information disclosed by the Company shall not be deemed to be Confidential Information, and Standard & Poor’s shall have no obligation to treat such information as Confidential Information, if such information (i) was substantially known by Standard & Poor’s at the time of such disclosure, (ii) was known to the public at the time of such disclosure, (iii) becomes known to the public (other than by Standard & Poor’s act) subsequent to such disclosure, (iv) is disclosed lawfully to Standard & Poor’s by a third party subsequent to such disclosure, (v) is developed independently by Standard & Poor’s without reference to the Confidential Information, (vi) is approved in writing by the Company for public disclosure, or (vii) is required by law to be disclosed by the Company or Standard & Poor’s, provided that notice of such required disclosure is given to the Company if such notice is permitted by law. ɋɒȺ. Standard & Poor’s ɜɩɪɚɜɟ ɩɭɛɥɢɤɨɜɚɬɶ ɪɚɡɴɹɫɧɟɧɢɹ ɨɬɧɨɫɢɬɟɥɶɧɨ ɫɨɞɟɪɠɚɧɢɹ ɤɪɢɬɟɪɢɟɜ ɩɪɢɫɜɨɟɧɢɹ ɪɟɣɬɢɧɝɚ Standard & Poor’s ɜ ɥɸɛɨɟ ɜɪɟɦɹ ɩɨ ɫɜɨɟɦɭ ɭɫɦɨɬɪɟɧɢɸ ɢ ɧɢɱɬɨ ɜ ɧɚɫɬɨɹɳɟɦ ɋɨɝɥɚɲɟɧɢɢ ɧɟ ɦɨɠɟɬ ɪɚɫɫɦɚɬɪɢɜɚɬɶɫɹ ɤɚɤ ɨɝɪɚɧɢɱɟɧɢɟ ɩɪɚɜ Standard & Poor’s ɢɡɦɟɧɹɬɶ ɢɥɢ ɭɬɨɱɧɹɬɶ ɭɤɚɡɚɧɧɵɟ ɤɪɢɬɟɪɢɢ ɜ ɥɸɛɨɟ ɜɪɟɦɹ, ɩɨ ɫɜɨɟɦɭ ɭɫɦɨɬɪɟɧɢɸ. 3. ɂɧɮɨɪɦɚɰɢɹ, ɩɪɟɞɨɫɬɚɜɥɹɟɦɚɹ Ʉɨɦɩɚɧɢɟɣ Ʉɨɦɩɚɧɢɹ ɨɛɹɡɭɟɬɫɹ ɩɨ ɡɚɩɪɨɫɭ Standard & Poor’s ɩɪɨɜɨɞɢɬɶ ɜɫɬɪɟɱɢ ɫ ɟɟ ɩɪɟɞɫɬɚɜɢɬɟɥɹɦɢ ɜ ɥɸɛɨɟ ɪɚɡɭɦɧɨɟ ɜɪɟɦɹ ɫ ɰɟɥɶɸ ɩɪɨɜɟɞɟɧɢɹ ɚɧɚɥɢɬɢɱɟɫɤɨɝɨ ɨɛɡɨɪɚ. Ʉɨɦɩɚɧɢɹ ɨɛɹɡɭɟɬɫɹ ɧɟɡɚɦɟɞɥɢɬɟɥɶɧɨ ɧɚɩɪɚɜɥɹɬɶ Standard & Poor’s ɢɧɮɨɪɦɚɰɢɸ ɜ ɨɬɧɨɲɟɧɢɢ ɪɟɣɬɢɧɝɚ ɢ ɧɚɛɥɸɞɟɧɢɹ ɡɚ ɧɢɦ, ɜɤɥɸɱɚɹ ɢɧɮɨɪɦɚɰɢɸ ɨ ɫɭɳɟɫɬɜɟɧɧɵɯ ɢɡɦɟɧɟɧɢɹɯ ɜ ɪɚɧɟɟ ɩɪɟɞɨɫɬɚɜɥɟɧɧɨɣ ɢɧɮɨɪɦɚɰɢɢ ɨ Ʉɨɦɩɚɧɢɢ. ɇɚ Ɋɟɣɬɢɧɝ ɦɨɠɟɬ ɩɨɜɥɢɹɬɶ ɦɧɟɧɢɟ Standard & Poor’s ɨ ɬɨɱɧɨɫɬɢ, ɩɨɥɧɨɬɟ, ɨɩɟɪɚɬɢɜɧɨɫɬɢ ɢ ɞɨɫɬɨɜɟɪɧɨɫɬɢ ɩɨɥɭɱɟɧɧɨɣ ɨɬ Ʉɨɦɩɚɧɢɢ ɢɥɢ ɟɟ ɚɝɟɧɬɨɜ ɢɧɮɨɪɦɚɰɢɢ. Standard & Poor’s ɧɟ ɨɛɹɡɚɧɚ ɩɪɨɜɨɞɢɬɶ ɩɪɨɜɟɪɤɭ ɞɨɫɬɨɜɟɪɧɨɫɬɢ ɩɪɟɞɨɫɬɚɜɥɟɧɧɵɯ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ ɟɟ ɚɝɟɧɬɚɦɢ ɞɨɤɭɦɟɧɬɨɜ ɢ ɢɧɮɨɪɦɚɰɢɢ. Standard & Poor’s ɜɩɪɚɜɟ ɨɬɨɡɜɚɬɶ ɪɟɣɬɢɧɝ ɜ ɫɥɭɱɚɟ ɧɟɩɪɟɞɫɬɚɜɥɟɧɢɹ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ ɟɟ ɚɝɟɧɬɚɦɢ ɬɨɱɧɨɣ, ɩɨɥɧɨɣ, ɨɩɟɪɚɬɢɜɧɨɣ ɢɥɢ ɞɨɫɬɨɜɟɪɧɨɣ ɢɧɮɨɪɦɚɰɢɢ. 4. Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ Ⱦɥɹ ɰɟɥɟɣ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ ɬɟɪɦɢɧ «Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ» ɨɡɧɚɱɚɟɬ ɢɧɮɨɪɦɚɰɢɸ, ɩɨɥɭɱɟɧɧɭɸ Standard & Poor’s ɨɬ Ʉɨɦɩɚɧɢɢ, ɩɪɢ ɭɫɥɨɜɢɢ, ɱɬɨ ɬɚɤɚɹ ɢɧɮɨɪɦɚɰɢɹ ɢɦɟɟɬ ɩɨɦɟɬɤɭ «Proprietary and Confidential» ɢɥɢ ɜ ɨɬɧɨɲɟɧɢɢ ɬɚɤɨɣ ɢɧɮɨɪɦɚɰɢɢ Standard & Poor’s ɩɨɥɭɱɢɥɚ ɨɬ Ʉɨɦɩɚɧɢɢ ɩɪɹɦɨɟ ɩɢɫɶɦɟɧɧɨɟ ɭɤɚɡɚɧɢɟ ɧɚ ɬɨ, ɱɬɨ ɢɧɮɨɪɦɚɰɢɹ ɧɨɫɢɬ ɱɚɫɬɧɵɣ ɢ ɤɨɧɮɢɞɟɧɰɢɚɥɶɧɵɣ ɯɚɪɚɤɬɟɪ. ȼɧɟ ɡɚɜɢɫɢɦɨɫɬɢ ɨɬ ɫɤɚɡɚɧɧɨɝɨ ɜɵɲɟ, ɪɚɫɤɪɵɬɚɹ Ʉɨɦɩɚɧɢɟɣ ɢɧɮɨɪɦɚɰɢɹ ɧɟ ɛɭɞɟɬ ɫɱɢɬɚɬɶɫɹ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɨɣ ɢɧɮɨɪɦɚɰɢɟɣ, ɟɫɥɢ ɬɚɤɚɹ ɢɧɮɨɪɦɚɰɢɹ (i) ɛɵɥɚ ɜɨ ɦɧɨɝɨɦ ɢɡɜɟɫɬɧɚ Standard & Poor’s ɜ ɦɨɦɟɧɬ ɬɚɤɨɝɨ ɪɚɫɤɪɵɬɢɹ; (ii) ɛɵɥɚ ɢɡɜɟɫɬɧɚ ɨɛɳɟɫɬɜɟɧɧɨɫɬɢ ɜ ɦɨɦɟɧɬ ɬɚɤɨɝɨ ɪɚɫɤɪɵɬɢɹ; (iii) ɫɬɚɥɚ ɞɨɫɬɨɹɧɢɟɦ ɨɛɳɟɫɬɜɟɧɧɨɫɬɢ (ɧɟ ɜ ɪɟɡɭɥɶɬɚɬɟ ɞɟɣɫɬɜɢɹ Standard & Poor’s) ɩɨɫɥɟ ɬɚɤɨɝɨ ɪɚɫɤɪɵɬɢɹ; (iv) ɩɪɚɜɨɦɟɪɧɨ ɪɚɫɤɪɵɬɚ Standard & Poor’s ɬɪɟɬɶɟɣ ɫɬɨɪɨɧɨɣ ɩɨɫɥɟ ɬɚɤɨɝɨ ɪɚɫɤɪɵɬɢɹ; (v) ɛɵɥɚ ɫɚɦɨɫɬɨɹɬɟɥɶɧɨ ɪɚɡɪɚɛɨɬɚɧɚ Standard & Poor’s ɛɟɡ ɢɫɩɨɥɶɡɨɜɚɧɢɹ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɨɣ ɢɧɮɨɪɦɚɰɢɢ (vi) ɦɨɠɟɬ ɛɵɬɶ ɩɭɛɥɢɱɧɨ ɪɚɫɤɪɵɬɚ ɜ ɫɢɥɭ ɩɢɫɶɦɟɧɧɨɝɨ ɪɚɡɪɟɲɟɧɢɹ Ʉɨɦɩɚɧɢɢ; ɢɥɢ (vii) ɞɨɥɠɧɚ ɛɵɬɶ ɪɚɫɤɪɵɬɚ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ Standard & Poor’s ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɡɚɤɨɧɨɦ ɩɪɢ ɭɫɥɨɜɢɢ ɧɚɩɪɚɜɥɟɧɢɹ Ʉɨɦɩɚɧɢɢ ɭɜɟɞɨɦɥɟɧɢɹ ɨ ɧɟɨɛɯɨɞɢɦɨɫɬɢ ɬɚɤɨɝɨ ɪɚɫɤɪɵɬɢɹ ɜ ɫɥɭɱɚɟ, ɟɫɥɢ ɬɚɤɨɟ ɭɜɟɞɨɦɥɟɧɢɟ ɪɚɡɪɟɲɟɧɨ ɞɟɣɫɬɜɭɸɳɢɦ ɡɚɤɨɧɨɞɚɬɟɥɶɫɬɜɨɦ. Commencing on the date hereof, Standard & Poor’s will use Confidential Information only in connection with the assignment and monitoring of ratings and will not directly disclose any Confidential Information to any third party. Standard & Poor’s may also use Confidential Information for research and modeling purposes provided that the Confidential Information is not presented in a way that can be directly tied to the Company. The Company agrees that the Confidential Information may be used to raise, lower, suspend, withdraw, place on CreditWatch, and change the Outlook assigned to any rating if the Confidential Information is not directly disclosed. 5. Standard & Poor’s Not an Advisor, Fiduciary, or Expert The Company understands and agrees that Standard & Poor’s is not acting as an investment, financial, or other advisor to the Company and that the Company should not and cannot rely upon the rating or any other information provided by Standard & Poor’s as investment or financial advice. Nothing in this Agreement is intended to or should be construed as creating a fiduciary relationship between Standard & Poor’s and the Company or between Standard & Poor’s and recipients of the rating. The Company understands and agrees that Standard & Poor’s has not consented to and will not consent to being named an “expert” under any applicable securities laws. 6. Limitation on Damages The Company agrees that, except for Standard & Poor's gross negligence or willful misconduct, Standard & Poor's, its officers, directors, shareholders, employees and agents shall not be liable to the Company or any other person for any actions, damages, claims, liabilities, costs expenses or losses in any way arising out of or relating to the rating or the related analytic services provided in an aggregate amount in excess of three times the aggregate fees paid to Standard & Poor's for the rating or services up to a maximum of US$1,000,000. In no event shall Standard & Poor's, it's officers, directors, shareholders, employees or agents be liable for any consequential, special, indirect, incidental, punitive or exemplary damages, costs, expenses, legal fees or losses (including, without limitation, lost profits and opportunity ɋ ɞɚɬɵ ɩɨɞɩɢɫɚɧɢɹ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ Standard & Poor’s ɝɚɪɚɧɬɢɪɭɟɬ, ɱɬɨ ɨɧɚ ɢ ɟɟ ɚɝɟɧɬɵ ɢ ɩɨɞɪɹɞɱɢɤɢ ɛɭɞɭɬ ɢɫɩɨɥɶɡɨɜɚɬɶ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɭɸ ɢɧɮɨɪɦɚɰɢɸ ɢɫɤɥɸɱɢɬɟɥɶɧɨ ɞɥɹ ɰɟɥɟɣ ɩɪɢɫɜɨɟɧɢɹ ɪɟɣɬɢɧɝɨɜ ɢ ɧɚɛɥɸɞɟɧɢɹ ɡɚ ɧɢɦɢ, ɢ ɧɟ ɛɭɞɟɬ ɩɪɹɦɨ ɪɚɫɤɪɵɜɚɬɶ ɥɸɛɭɸ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɭɸ ɢɧɮɨɪɦɚɰɢɸ ɤɚɤɢɦ-ɥɢɛɨ ɬɪɟɬɶɢɦ ɥɢɰɚɦ. Standard & Poor’s ɬɚɤɠɟ ɜɩɪɚɜɟ ɢɫɩɨɥɶɡɨɜɚɬɶ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɭɸ ɢɧɮɨɪɦɚɰɢɸ ɞɥɹ ɢɫɫɥɟɞɨɜɚɧɢɣ ɢ ɭɫɥɨɜɢɢ, ɱɬɨ ɩɨɫɬɪɨɟɧɢɹ ɦɨɞɟɥɟɣ ɩɪɢ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ ɧɟ ɩɪɟɞɫɬɚɜɥɹɟɬɫɹ ɜ ɮɨɪɦɟ, ɩɨɡɜɨɥɹɸɳɟɣ ɫɜɹɡɚɬɶ ɟɟ ɫ Ʉɨɦɩɚɧɢɟɣ. Ʉɨɦɩɚɧɢɹ ɫɨɝɥɚɫɧɚ, ɱɬɨ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ ɦɨɠɟɬ ɛɵɬɶ ɢɫɩɨɥɶɡɨɜɚɧɚ ɞɥɹ ɩɨɜɵɲɟɧɢɹ, ɩɨɧɢɠɟɧɢɹ, ɩɪɢɨɫɬɚɧɨɜɥɟɧɢɹ ɢɥɢ ɨɬɡɵɜɚ ɥɸɛɨɝɨ ɪɟɣɬɢɧɝɚ, ɩɪɢɫɜɨɟɧɢɹ ɬɚɤɨɦɭ ɪɟɣɬɢɧɝɭ ɫɬɚɬɭɫɚ «CreditWatch», ɩɪɢ ɭɫɥɨɜɢɢ, ɱɬɨ ɷɬɨ ɧɟ ɩɨɜɥɟɱɟɬ ɡɚ ɫɨɛɨɣ ɩɪɹɦɨɝɨ ɪɚɫɤɪɵɬɢɹ Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɨɣ ɢɧɮɨɪɦɚɰɢɢ. 5. Standard & Poor’s ɧɟ ɹɜɥɹɟɬɫɹ ɤɨɧɫɭɥɶɬɚɧɬɨɦ, ɚɝɟɧɬɨɦ ɢɥɢ ɷɤɫɩɟɪɬɨɦ Ʉɨɦɩɚɧɢɹ ɩɨɧɢɦɚɟɬ ɢ ɫɨɝɥɚɲɚɟɬɫɹ, ɱɬɨ Standard & Poor’s ɧɟ ɹɜɥɹɟɬɫɹ ɢɧɜɟɫɬɢɰɢɨɧɧɵɦ, ɮɢɧɚɧɫɨɜɵɦ ɢɥɢ ɢɧɵɦ ɤɨɧɫɭɥɶɬɚɧɬɨɦ (ɫɨɜɟɬɧɢɤɨɦ) Ʉɨɦɩɚɧɢɢ, ɢ ɱɬɨ Ʉɨɦɩɚɧɢɹ ɧɟ ɦɨɠɟɬ ɢ ɧɟ ɞɨɥɠɧɚ ɩɨɥɚɝɚɬɶɫɹ ɧɚ ɪɟɣɬɢɧɝ ɢɥɢ ɥɸɛɭɸ ɞɪɭɝɭɸ ɢɧɮɨɪɦɚɰɢɸ, ɩɪɟɞɨɫɬɚɜɥɟɧɧɭɸ Standard & Poor’s, ɤɚɤ ɧɚ ɮɢɧɚɧɫɨɜɵɣ ɢɥɢ ɢɧɜɟɫɬɢɰɢɨɧɧɵɣ ɫɨɜɟɬ. ɇɢ ɨɞɧɨ ɩɨɥɨɠɟɧɢɟ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ ɧɟ ɢɦɟɟɬ ɰɟɥɶɸ ɫɨɡɞɚɧɢɟ ɢ ɧɟ ɞɨɥɠɧɨ ɬɨɥɤɨɜɚɬɶɫɹ ɜ ɩɨɥɶɡɭ ɫɨɡɞɚɧɢɹ ɮɢɞɭɰɢɚɪɧɵɯ ɨɬɧɨɲɟɧɢɣ ɦɟɠɞɭ Standard & Poor’s, ɢ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ Standard & Poor’s, ɢ ɩɨɥɭɱɚɬɟɥɹɦɢ ɪɟɣɬɢɧɝɚ. Ʉɨɦɩɚɧɢɹ ɩɨɧɢɦɚɟɬ ɢ ɫɨɝɥɚɫɧɚ, ɱɬɨ Standard & Poor’s ɧɟ ɫɨɝɥɚɲɚɟɬɫɹ ɢ ɧɟ ɫɨɝɥɚɫɢɬɫɹ ɢɦɟɧɨɜɚɬɶɫɹ «ɷɤɫɩɟɪɬɨɦ» ɜ ɫɦɵɫɥɟ ɩɪɢɦɟɧɢɦɨɝɨ ɡɚɤɨɧɨɞɚɬɟɥɶɫɬɜɚ ɨ ɰɟɧɧɵɯ ɛɭɦɚɝɚɯ. 6. Ɉɝɪɚɧɢɱɟɧɢɟ Ɉɬɜɟɬɫɬɜɟɧɧɨɫɬɢ Ʉɨɦɩɚɧɢɹ ɫɨɝɥɚɫɧɚ, ɱɬɨ, ɡɚ ɢɫɤɥɸɱɟɧɢɟɦ ɫɥɭɱɚɟɜ ɝɪɭɛɨɣ ɧɟɛɪɟɠɧɨɫɬɢ ɢɥɢ ɭɦɵɲɥɟɧɧɨɣ ɜɢɧɵ, Standard & Poor’s, ɟɺ ɞɨɥɠɧɨɫɬɧɵɟ ɥɢɰɚ, ɞɢɪɟɤɬɨɪɚ, ɚɤɰɢɨɧɟɪɵ, ɫɨɬɪɭɞɧɢɤɢ ɢ ɢɯ ɚɝɟɧɬɵ ɧɟ ɧɟɫɭɬ ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɢ ɡɚ ɥɸɛɵɟ ɞɟɣɫɬɜɢɹ, ɭɛɵɬɤɢ, ɩɪɟɬɟɧɡɢɢ, ɞɨɥɝɨɜɵɟ ɨɛɹɡɚɬɟɥɶɫɬɜɚ, ɢɡɞɟɪɠɤɢ, ɪɚɫɯɨɞɵ ɢɥɢ ɩɨɬɟɪɢ Ʉɨɦɩɚɧɢɢ ɢɥɢ ɬɪɟɬɶɢɯ ɥɢɰ ɥɸɛɵɦ ɨɛɪɚɡɨɦ ɫɜɹɡɚɧɧɵɟ ɫ ɪɟɣɬɢɧɝɨɦ ɢɥɢ ɫɨɩɭɬɫɬɜɭɸɳɢɦɢ ɚɧɚɥɢɬɢɱɟɫɤɢɦɢ ɭɫɥɭɝɚɦɢ ɜ ɫɭɦɦɟ ɜ ɫɨɜɨɤɭɩɧɨɫɬɢ ɩɪɟɜɵɲɚɸɳɟɣ ɬɪɨɣɧɨɣ ɫɭɦɦɚɪɧɵɣ ɪɚɡɦɟɪ ɜɨɡɧɚɝɪɚɠɞɟɧɢɹ, ɜɵɩɥɚɱɟɧɧɨɝɨ Standard & Poor’s ɡɚ ɪɟɣɬɢɧɝ, ɧɨ ɧɟ ɛɨɥɟɟ 1 000 000 ɞɨɥɥɚɪɨɜ ɋɒȺ. ɇɢ ɩɪɢ ɤɚɤɢɯ ɨɛɫɬɨɹɬɟɥɶɫɬɜɚɯ Standard & Poor’s, ɟɺ ɞɨɥɠɧɨɫɬɧɵɟ ɥɢɰɚ, ɞɢɪɟɤɬɨɪɚ, ɚɤɰɢɨɧɟɪɵ, ɪɚɛɨɬɧɢɤɢ ɢɥɢ ɚɝɟɧɬɵ ɧɟ ɧɟɫɭɬ ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɶ ɡɚ ɥɸɛɵɟ ɤɨɫɜɟɧɧɵɟ, ɞɨɩɨɥɧɢɬɟɥɶɧɵɟ, ɧɟɩɪɹɦɵɟ, ɩɨɛɨɱɧɵɟ, ɲɬɪɚɮɧɵɟ ɭɛɵɬɤɢ, ɢɡɞɟɪɠɤɢ, ɡɚɬɪɚɬɵ, ɪɚɫɯɨɞɵ ɧɚ costs). In furtherance and not in limitation of the foregoing, Standard & Poor's will not be liable in respect of any decisions made by the Company or any other person as a result of the issuance of the rating or the related analytic services provided by Standard & Poor's hereunder or based on anything that appears to be advice or recommendations. The provisions of this paragraph shall apply regardless of the form of action, damage, claim, liability, cost, expense or loss, whether in contract, statute, tort (including, without limitation, negligence) or otherwise, howsoever caused or arising. Nothing in this paragraph shall operate to exclude or restrict Standard & Poor's liability for (a) death or personal injury resulting from negligence or (b) fraud. The invalidity, illegality or unenforceability of any provision of this paragraph does not affect or impair the continuation in force of the remainder of this paragraph. The Company acknowledges and agrees that Standard & Poor's does not waive any protections, privileges, or defences it may have under any law, including but not limited to, laws relating to freedom of expression. 7. Term This Agreement shall terminate when the ratings are withdrawn. Notwithstanding the foregoing, the paragraphs above, “Confidential Information”, “Standard & Poor’s Not an Advisor, Fiduciary, or Expert” and “Limitation on Damages”, shall survive the termination of this Agreement or any withdrawal of a rating. 8. Third Parties Nothing in this Agreement, or the rating when issued, is intended or should be construed as creating any rights on behalf of any third parties, including, without limitation, any recipient of the rating. No person is intended as a third party beneficiary to this Agreement or to the rating when issued. A person who is not a party to this Agreement shall have no rights under the Agreement to enforce any term of this Agreement. 9. Binding Effect This Agreement shall be binding on, and inure to the benefit of, the parties hereto and their successors and assigns. 10. Severability ɸɪɢɫɬɨɜ ɢɥɢ ɩɨɬɟɪɢ, (ɜɤɥɸɱɚɹ, ɧɨ ɧɟ ɨɝɪɚɧɢɱɢɜɚɹɫɶ, ɭɩɭɳɟɧɧɭɸ ɜɵɝɨɞɭ ɢ ɢɡɞɟɪɠɤɢ). ȼ ɩɪɨɞɨɥɠɟɧɢɟ ɢ ɧɟ ɨɝɪɚɧɢɱɢɜɚɹ ɫɭɳɧɨɫɬɢ ɜɵɲɟɢɡɥɨɠɟɧɧɨɝɨ, Standard & Poor’s ɧɟ ɛɭɞɟɬ ɧɟɫɬɢ ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɶ ɜ ɨɬɧɨɲɟɧɢɢ ɥɸɛɵɯ ɪɟɲɟɧɢɣ, ɩɪɢɧɹɬɵɯ Ʉɨɦɩɚɧɢɟɣ ɢɥɢ ɢɧɵɦ ɥɢɰɨɦ, ɜ ɪɟɡɭɥɶɬɚɬɟ ɩɪɢɫɜɨɟɧɢɹ ɪɟɣɬɢɧɝɚ ɢɥɢ ɨɫɭɳɟɫɬɜɥɟɧɢɹ ɫɨɩɭɬɫɬɜɭɸɳɢɯ ɚɧɚɥɢɬɢɱɟɫɤɢɯ ɭɫɥɭɝ, ɩɪɟɞɨɫɬɚɜɥɹɟɦɵɯ Standard & Poor’s ɧɚ ɨɫɧɨɜɚɧɢɢ ɜɫɟɝɨ ɬɨɝɨ, ɱɬɨ ɦɨɠɟɬ ɛɵɬɶ ɢɫɬɨɥɤɨɜɚɧɨ ɜ ɤɚɱɟɫɬɜɟ ɫɨɜɟɬɚ ɢɥɢ ɪɟɤɨɦɟɧɞɚɰɢɢ. ɉɨɥɨɠɟɧɢɹ ɧɚɫɬɨɹɳɟɝɨ ɩɭɧɤɬɚ ɞɟɣɫɬɜɭɸɬ ɧɟɡɚɜɢɫɢɦɨ ɨɬ ɯɚɪɚɤɬɟɪɚ ɞɟɣɫɬɜɢɣ, ɭɛɵɬɤɨɜ, ɩɪɟɬɟɧɡɢɣ, ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɢ, ɢɡɞɟɪɠɟɤ, ɪɚɫɯɨɞɨɜ ɢɥɢ ɩɨɬɟɪɶ ɤɚɤ ɜ ɨɬɧɨɲɟɧɢɢ ɤɨɧɬɪɚɤɬɚ, ɡɚɤɨɧɨɞɚɬɟɥɶɧɨɝɨ ɚɤɬɚ, ɞɟɥɢɤɬɚ (ɜɤɥɸɱɚɹ, ɧɨ ɧɟ ɨɝɪɚɧɢɱɢɜɚɹɫɶ, ɧɟɛɪɟɠɧɨɫɬɶ), ɬɚɤ ɢ ɜ ɨɬɧɨɲɟɧɢɢ ɩɪɨɱɟɝɨ. ɇɢɱɬɨ ɜ ɧɚɫɬɨɹɳɟɣ ɫɬɚɬɶɟ ɧɟ ɢɫɤɥɸɱɚɟɬ ɢ ɧɟ ɨɝɪɚɧɢɱɢɜɚɟɬ ɨɬɜɟɬɫɬɜɟɧɧɨɫɬɶ Standard & Poor’s ɡɚ (a) ɝɢɛɟɥɶ ɢɥɢ ɬɪɚɜɦɭ ɜ ɪɟɡɭɥɶɬɚɬɟ ɧɟɛɪɟɠɧɨɫɬɢ ɢɥɢ (b) ɦɨɲɟɧɧɢɱɟɫɬɜɨ. ɇɟɞɟɣɫɬɜɢɬɟɥɶɧɨɫɬɶ, ɩɪɨɬɢɜɨɡɚɤɨɧɧɨɫɬɶ ɢɥɢ ɧɟɜɨɡɦɨɠɧɨɫɬɶ ɩɪɢɜɟɞɟɧɢɹ ɜ ɢɫɩɨɥɧɟɧɢɟ ɥɸɛɵɯ ɩɨɥɨɠɟɧɢɣ ɧɚɫɬɨɹɳɟɣ ɫɬɚɬɶɢ ɧɟ ɜɥɢɹɟɬ ɢ ɧɟ ɨɫɥɚɛɥɹɟɬ ɞɟɣɫɬɜɢɟ ɨɫɬɚɥɶɧɨɣ ɱɚɫɬɢ ɧɚɫɬɨɹɳɟɣ ɫɬɚɬɶɢ. Ʉɨɦɩɚɧɢɹ ɩɪɢɡɧɚɟɬ ɢ ɫɨɝɥɚɲɚɟɬɫɹ, ɱɬɨ Standard & Poor’s ɧɟ ɨɬɤɚɡɵɜɚɟɬɫɹ ɧɢ ɨɬ ɤɚɤɢɯ ɡɚɳɢɬ, ɩɪɢɜɢɥɟɝɢɣ, ɜɨɡɦɨɠɧɵɯ ɧɚ ɨɫɧɨɜɚɧɢɢ ɥɸɛɵɯ ɡɚɤɨɧɨɜ, ɜɤɥɸɱɚɹ, ɧɨ ɧɟ ɨɝɪɚɧɢɱɢɜɚɹɫɶ, ɡɚɤɨɧɵ ɨ ɫɜɨɛɨɞɟ ɜɵɪɚɠɟɧɢɹ. 7. ɋɪɨɤ ɞɟɣɫɬɜɢɹ ɋɨɝɥɚɲɟɧɢɹ ɇɚɫɬɨɹɳɟɟ ɋɨɝɥɚɲɟɧɢɟ ɩɪɟɤɪɚɳɚɟɬ ɞɟɣɫɬɜɨɜɚɬɶ ɫ ɦɨɦɟɧɬɚ ɨɬɡɵɜɚ Ɋɟɣɬɢɧɝɚ. ɇɟɜɡɢɪɚɹ ɧɚ ɜɵɲɟɫɤɚɡɚɧɧɨɟ, ɩɨɥɨɠɟɧɢɹ ɫɬɚɬɟɣ «Ʉɨɧɮɢɞɟɧɰɢɚɥɶɧɚɹ ɢɧɮɨɪɦɚɰɢɹ», «Standard & Poor’s ɧɟ ɹɜɥɹɟɬɫɹ ɤɨɧɫɭɥɶɬɚɧɬɨɦ, ɚɝɟɧɬɨɦ ɢɥɢ ɷɤɫɩɟɪɬɨɦ» ɢ «Ɉɝɪɚɧɢɱɟɧɢɟ Ɉɬɜɟɬɫɬɜɟɧɧɨɫɬɢ», ɨɫɬɚɸɬɫɹ ɜ ɫɢɥɟ ɩɨɫɥɟ ɩɪɟɤɪɚɳɟɧɢɹ ɞɟɣɫɬɜɢɹ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ ɢɥɢ ɨɬɡɵɜɚ ɪɟɣɬɢɧɝɚ. 8. Ɍɪɟɬɶɢ ɥɢɰɚ ɇɢ ɨɞɧɨ ɩɨɥɨɠɟɧɢɟ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ, ɢɥɢ ɪɟɣɬɢɧɝɚ, ɩɨɫɥɟ ɟɝɨ ɩɪɢɫɜɨɟɧɢɹ ɧɟ ɢɦɟɟɬ ɰɟɥɶɸ ɫɨɡɞɚɧɢɟ ɢ ɧɟ ɞɨɥɠɧɨ ɬɨɥɤɨɜɚɬɶɫɹ ɜ ɩɨɥɶɡɭ ɫɨɡɞɚɧɢɹ ɤɚɤɢɯ-ɥɢɛɨ ɩɪɚɜ ɞɥɹ ɤɚɤɢɯ-ɥɢɛɨ ɬɪɟɬɶɢɯ ɥɢɰ, ɜɤɥɸɱɚɹ, ɧɨ ɧɟ ɨɝɪɚɧɢɱɢɜɚɹɫɶ, ɥɸɛɵɯ ɩɨɥɭɱɚɬɟɥɟɣ ɪɟɣɬɢɧɝɚ. ɇɢɤɚɤɢɟ ɥɢɰɚ ɧɟ ɩɨɞɪɚɡɭɦɟɜɚɸɬɫɹ ɜ ɤɚɱɟɫɬɜɟ ɬɪɟɬɶɢɯ ɫɬɨɪɨɧ – ɜɵɝɨɞɨɩɨɥɭɱɚɬɟɥɟɣ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ, ɩɪɢɫɜɨɟɧɧɨɝɨ ɪɟɣɬɢɧɝɚ. Ʌɢɰɨ, ɧɟ ɹɜɥɹɸɳɟɟɫɹ ɫɬɨɪɨɧɨɣ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ, ɧɟ ɢɦɟɟɬ ɩɪɚɜɚ ɩɪɢɜɨɞɢɬɶ ɜ ɢɫɩɨɥɧɟɧɢɟ ɭɫɥɨɜɢɹ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ. 9. Ɉɛɹɡɚɬɟɥɶɧɨɫɬɶ ɇɚɫɬɨɹɳɟɟ ɋɨɝɥɚɲɟɧɢɟ ɨɛɹɡɚɬɟɥɶɧɨ ɢ ɞɟɣɫɬɜɭɟɬ ɜ ɢɧɬɟɪɟɫɚɯ ɡɚɤɥɸɱɢɜɲɢɯ ɟɝɨ ɋɬɨɪɨɧ, ɢɯ ɩɪɚɜɨɩɪɟɟɦɧɢɤɨɜ ɢ ɰɟɫɫɢɨɧɚɪɢɟɜ. 10. Ⱦɟɥɢɦɨɫɬɶ In the event that any term or provision of this Agreement shall be held to be invalid, void, or unenforceable, then the remainder of this Agreement shall not be affected, impaired, or invalidated, and each such term and provision shall be valid and enforceable to the fullest extent permitted by law. 11. Complete Agreement This Agreement constitutes the complete agreement between the parties with respect to its subject matter. This Agreement may not be modified except in a writing signed by authorized representatives of both parties. ȼ ɫɥɭɱɚɟ ɟɫɥɢ ɤɚɤɨɟ-ɥɢɛɨ ɩɨɥɨɠɟɧɢɟ ɧɚɫɬɨɹɳɟɝɨ ɋɨɝɥɚɲɟɧɢɹ ɛɭɞɟɬ ɩɪɢɡɧɚɧɨ ɧɟɞɟɣɫɬɜɢɬɟɥɶɧɵɦ, ɧɢɱɬɨɠɧɵɦ ɢɥɢ ɧɟ ɢɦɟɸɳɢɦ ɢɫɤɨɜɨɣ ɡɚɳɢɬɵ, ɨɫɬɚɥɶɧɨɟ ɋɨɝɥɚɲɟɧɢɟ ɧɟ ɛɭɞɭɬ ɡɚɬɪɨɧɭɬɨ ɢɥɢ ɩɪɢɡɧɚɧɨ ɧɟɞɟɣɫɬɜɢɬɟɥɶɧɵɦ, ɚ ɤɚɠɞɨɟ ɬɚɤɨɟ ɩɨɥɨɠɟɧɢɟ ɛɭɞɟɬ ɞɟɣɫɬɜɢɬɟɥɶɧɨ ɢ ɢɦɟɬɶ ɢɫɤɨɜɭɸ ɡɚɳɢɬɭ ɧɚɫɤɨɥɶɤɨ ɷɬɨ ɜɨɡɦɨɠɧɨ ɜ ɫɨɨɬɜɟɬɫɬɜɢɢ ɫ ɡɚɤɨɧɨɦ. 11. ɇɟɞɟɥɢɦɨɫɬɶ ɋɨɝɥɚɲɟɧɢɹ ɇɚɫɬɨɹɳɟɟ ɋɨɝɥɚɲɟɧɢɟ, ɫɨɫɬɚɜɥɹɟɬ ɩɨɥɧɨɟ ɫɨɝɥɚɲɟɧɢɟ ɦɟɠɞɭ ɫɬɨɪɨɧɚɦɢ ɜ ɨɬɧɨɲɟɧɢɢ ɟɝɨ ɩɪɟɞɦɟɬɚ. ɋɨɝɥɚɲɟɧɢɟ ɦɨɠɟɬ ɛɵɬɶ ɢɡɦɟɧɟɧɨ ɢɥɢ ɞɨɩɨɥɧɟɧɨ ɢɫɤɥɸɱɢɬɟɥɶɧɨ ɩɨɫɪɟɞɫɬɜɨɦ ɫɨɫɬɚɜɥɟɧɢɹ ɫɬɨɪɨɧɚɦɢ ɩɢɫɶɦɟɧɧɨɝɨ ɞɨɤɭɦɟɧɬɚ, ɩɨɞɩɢɫɚɧɧɨɝɨ ɢɯ ɭɩɨɥɧɨɦɨɱɟɧɧɵɦɢ ɩɪɟɞɫɬɚɜɢɬɟɥɹɦɢ.
