Fitch rates Renaissance Capital B-

Fitch Ratings said it assigned CB Renaissance Capital ratings of issuer default B-, short-term B, support 5, individual D/E and national long-term BB(rus).

The outlook is stable.

The ratings reflect the bank's short track record of operations and the fact that it has yet to break even on a full-year basis, Fitch said, as well as its still-developing asset base and franchise. The ratings also consider the high credit, operational and liquidity risks associated with the rapid loan growth being pursued in retail lending, the agency added and the bank's significant loan loss levels experienced to date.

However, the agency said the ratings also take into account the bank's experienced management, sound capital levels and low market-risk appetite.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.