OREANDA-NEWS. Renaissance Capital, a leading emerging and frontier markets investment Firm, announces that the contract with Moody’s Interfax Rating Agency has expired as of 12 November 2014.

The Firm took a voluntary decision to abandon Moody’s rating services due to continued optimization of its operating expenses and following the repayment of the principal amount of Renaissance Financial Holdings Limited (RFHL) Eurobonds in April 2014 that have been previously rated by Moody’s, S&P and Fitch.

Renaissance Capital has notified Moody’s in advance that it would no longer be using the agency’s services. In accordance with the terms of the contract expiration, the ratings previously assigned by Moody’s to Renaissance Financial Holdings Limited (RFHL) are withdrawn and further ratings discontinued.

As of the time of this press release, Renaissance Financial Holdings Limited (RFHL) has the following ratings: Fitch - "B" (March 2014); S&P - "B" (December 2014).

About Renaissance Capital:

Renaissance Capital is a leading emerging and frontier markets investment bank with operations in Russia, Eastern Europe, the Middle East, Asia and Africa. The Firm also offers its clients access to these markets through such financial centres as London and New York. Renaissance Capital has market-leading positions in each of its core businesses – M&A, equity and debt capital markets, securities sales and trading, research and derivatives. The Firm is building market-leading practices across emerging markets globally in metals & mining, oil & gas and agriculture Renaissance Capital is part of ONEXIM Group.