Research Update: Commercial Bank Renaissance Capital Ratings Affirmed At 'B/C' And 'ruBBB+' On Bank Criteria Change; Outlook Stable Dec 11
- Language: English
- Published: December 2011
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.
SHOW LESS READ MORE >
Renaissance Financial Holdings Ltd.,Renaissance Capital Holdings Ltd.,Renaissance Securities Trading Ltd.,Commercial Bank Renaissance Capital