Moody's downgrades Yes Bank rating, changes outlook to negative | Editorji
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Moody's downgrades Yes Bank rating, changes outlook to negative

Aug 28, 2019 20:10 IST

Moody's Investors Service on Wednesday downgraded Yes Bank's long-term foreign-currency issuer rating to ‘Ba3’ from ‘Ba1’. Moody's decision was after taking into account the risks of raising capital due to sharp fall in Yes Bank's share price and raising of lower than expected capital by the bank. The rating agency also changed the private lender's outlook to negative as Yes Bank's asset quality worsened in the quarter ended June 30, with gross non-performing loan ratio rising to 5% against 3.2% at the end of March quarter.