Moody’s lifts Home Credit, CB Renaissance to stable

Moody's Investors Service said it changed the outlook to stable from negative on Home Credit and Finance Bank and CB Renaissance Credit LLC.

The agency also said it affirmed Home Credit's B2 baseline credit assessment and adjusted baseline credit assessment, B3 subordinated debt rating, B1(cr)/not-prime(cr) counterparty risk assessment and not-prime short-term rating.

Moody’s also affirmed CB Renaissance Credit's B3 baseline credit assessment, the B2(cr)/not-prime credit assessment and the not-prime short-term rating.

The stable outlook reflects improvements in the bank's profitability as a result of reduced funding and credit costs, Moody’s said, along with an expectation of profitable performance in 2016 through 2017.

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