Fitch rates Renaissance Securities new MTNs BB-

Fitch Ratings said it assigned Renaissance Securities Trading Ltd.'s new $1 billion euro medium-term note program expected ratings of long-term BB- and short-term B.

The agency also said it assigned an expected long-term BB- rating to the upcoming debut three-year issue under the program.

The notes under the program are unconditionally and irrevocably guaranteed by Renaissance Capital Holdings Ltd. (long-term BB-/stable, short-term B, individual C/D, support 5), the agency noted.

Fitch added the unsecured notes of each series will rank at least pari passu with all present or future unsecured and unsubordinated obligations of the issuer and the guarantor, save those preferred by relevant provisions of law and of general application.

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