Moodys places Yes Banks ratings under review with direction uncertain

Moodys has also placed the banks long-term foreign and local currency bank deposit ratings of B2, and its foreign currency senior unsecured MTN program rating of (P)B2, under review, with the direction uncertain.

At the same time, Moodys has downgraded Yes Banks Baseline Credit Assessment (BCA) and adjusted BCA to caa2 from b3.

The placing of Yes Banks deposit rating of B2 under review reflects Moodys expectation that the banks standalone viability is getting increasingly challenged by its slowness in raising new capital. Moodys points out that the potential credit risk to the banks senior creditors is uncertain, because there are a number of diverse scenarios that could affect the rating in either positive or negative directions.

Powered by Capital Market - Live News