Named after Walter Ritz - Swiss physicist (1878-1909).
Ritz is a lunar impact crater on the far side , just beyond the eastern limb. This portion of the lunar surface is sometimes brought into view of the Earth under favorable conditions of libration and sunlight. The crater lies to the northwest of the prominent crater Sklodowska. This is a heavily worn and eroded crater formation that has not retained much of its original structure. (wikipedia entry)
A crater is a circular depression likely created by an impact event. On the Moon they are named after deceased scientists, polar explorers, astronauts or cosmonauts.