OREANDA-NEWS. Fitch Ratings has today assigned Russia-based CB Bank Renaissance Capital ("CBRC") ratings of Issuer Default "B-" (B minus), Short-term "B", Support "5", Individual 'D/E' and National Long-term "BB(rus)". A Stable Outlook has been assigned to both Issuer Default and National Long-term ratings.

The ratings reflect CBRC's short track record of operations and the fact that it has yet to break even on a full-year basis, as well as its still developing asset base and franchise.

The ratings also consider the high credit, operational and liquidity risks associated with the rapid loan growth being pursued in retail lending and the bank's significant loan loss levels experienced to date.