Moody’s affirms Yes Bank

Moody's Investors Service said it affirmed Yes Bank Ltd.'s foreign currency issuer rating of Baa3.

The agency also affirmed the bank's foreign and local currency bank deposit ratings of Baa3/Prime-3.

At the same time, Moody's affirmed Yes Bank's baseline credit assessment of ba1 and adjusted baseline credit assessment of ba1.

The agency affirmed the bank's counterparty risk assessment of Baa3(cr)/P-3(cr) and domestic currency counterparty risk rating of Baa3/P-3.

Moody's also affirmed the senior unsecured debt rating of Baa3 for the bank's IFSC Banking Unit Branch.

The outlook is stable.

The agency said the affirmation takes into account an assessment of moderate support from the government of India (Baa2 stable) to the bank in times of need.

“The moderate support assumption reflects the bank's modest, but rapidly growing franchise, and its relative importance to India's banking system,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.