Moody’s reviews Yes Bank for trim

Moody’s Investors Service said it placed Yes Bank Ltd.’s long-term foreign currency issuer rating of B2, its bank deposit ratings and other ratings under review, with the direction uncertain.

The placing of Yes Bank’s deposit rating of B2 under review reflects Moody’s view the bank’s standalone viability is getting increasingly challenged by its slowness in raising new capital.

Moody’s says because the viability of the bank absent a large capital injection is in question, the agency downgraded the bank’s standalone credit profile or its BCA to caa2 from b3.

Yes Bank is in discussions with a number of investors to raise new equity capital, which would be credit positive if executed successfully.

© 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.