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Moody’s downgrades Yes bank's rating

Date: 29 August 2019 Tags: miscellaneous
  • Global ratings agency Moody's downgraded private sector lender Yes Bank into Junk.
  • The ratings of Yes Bank's long term foreign and local currency bank deposit ratings was downgraded to Ba3 from Ba1, with negative outlook.
  • The downgrade of Yes Bank's ratings takes into account, lower than expected amount of capital raised by the bank and the risk that the substantial decline in the bank's share price will cause.