OREANDA-NEWS. April 04, 2012. Fitch Ratings has affirmed CB Renaissance Capital (LLC), acting under Renaissance Credit brand name, Long-term Issuer Default Rating at 'B' with the Stable Outlook.

The affirmation reflects Renaissance Credit’s CBRC healthy earnings generation, comfortable short-term liquidity position and manageable refinancing schedule.

Alexey Levchenko, Renaissance Credit CEO, commented: “Rating affirmation from Fitch Ratings which followed the recent rating upgrade from Moody’s is a clear sign that the strategy we have chosen to pursue in the conditions of uncertainty on financial markets is accurate. We maintain our focus on high-asset quality, operating efficiency, diversification of funding and customer acquisition channels. Possessing a significant liquidity cushion, effective distribution network and one of the best risk management systems, in 2012 we plan to outpace the market with the growth rate of 30-35%”.

About Renaissance Credit

Founded in 2003, Renaissance Credit is a leading consumer lending institution offering consumer loans, credit cards and deposits to 5 million customers across Russia.

Renaissance Credit is a trademark of CB Renaissance Capital (LCC), which holds banking licenses №3354 issued by the Central Bank of Russia.

Credit ratings: B, Stable (S&P) / B2, Stable (Moody’s) / B, Stable (Fitch).