India Ratings Downgrades Yes Bank, Outlook Negative
A pedestrian and motorcyclist pass a Yes Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

India Ratings Downgrades Yes Bank, Outlook Negative

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Private sector lender Yes Bank on Saturday said India Ratings and Research has downgraded its long-term issuer rating to ‘IND A+’.

“India Ratings and Research has downgraded Yes Bank Ltd's long-term issuer rating to ‘IND A+’ from ‘IND AA-’,” the bank said in an exchange filing.

“The outlook is negative. The agency has affirmed the bank's short-term issuer rating at ‘IND A1+’,” it added.

According to Ind-Ra, ‘IND AA’ rating signifies “high degree of safety” regarding timely servicing of financial obligations, while instruments rated ‘IND A’ have “adequate degree of safety”.

Also read: Moody’s Downgrades Yes Bank Ratings With A Negative Outlook

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