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 Credit LLC
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