Industry

Moody’s upgrades Yes Bank ratings

Representational image.

Representational image.   | Photo Credit: Nagara Gopal

Moody’s Investors Service has upgraded Yes Bank’s long-term foreign currency issuer rating to B3 from Caa1. It has also upgraded the bank’s long-term foreign and local currency bank deposit ratings to B3 from Caa1, and its foreign currency senior unsecured MTN program rating to (P)B3 from (P)Caa1.

“Yes Bank’s successful equity capital raise of ₹15,000 crore has bolstered its solvency and is the main driver of the ratings upgrade,” it said.

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Printable version | Sep 21, 2020 5:34:49 AM | https://www.thehindu.com/business/Industry/moodys-upgrades-yes-bank-ratings/article32262866.ece

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