Research Update: Renaissance Financial Holdings Outlook To Stable On Stabilized Capital And Liquidity Position; 'B+' Rating Affirmed Apr 11
- ID: 1793664
- April 2011
- Standard & Poors
We now believe that Russia-based Renaissance Capital investment banking group's capital and liquidity position has stabilized and that prospects are good for RenCap to meet its medium-term strategic objectives. We are revising our outlook to stable from negative on RenCap's holding company, Renaissance Financial Holdings Ltd. (RFHL). We are affirming the 'B+/B' ratings on RFHL. The stable outlook reflects our expectations that RenCap will generate moderately positive pretax income in 2011. On April 5, 2011, Standard & Poor's Ratings Services revised its outlook to stable from negative on Russia-based brokerage and investment banking house Renaissance Financial Holdings Ltd. and affirmed its 'B+' long-term and 'B' short-term counterparty credit ratings. The 'B+' long-term rating reflects the risky operating environment for investment...
Companies mentioned in this report are: Renaissance Financial Holdings Ltd.,Renaissance Capital Holdings Ltd.,Renaissance Securities Trading Ltd.,Commercial Bank Renaissance Capital
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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