Business

ICRA downgrades Yes Bank

Rating agency ICRA has downgraded several debt instruments of Yes Bank due to uncertainties around its capital raising plan.

“The rating downgrade considers the continued uncertainty regarding the timing and quantum of capital raise by Yes Bank Limited (YBL). The level of investor interest amid the correction in the stock price and the receipt of regulatory approvals also remain key monitorables,” the rating agency said.

The bank had said it had received a proposal for investment of $2 billion.

ICRA said Yes Bank would need to reduce its share of stressed loans and prevent slippages from its standard BB and below rated exposures, given their sizeable quantum in relation to the core capital. The rating agency also expects bad loans of Yes Bank to increase in the current quarter.

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Printable version | Feb 26, 2020 8:00:53 PM | https://www.thehindu.com/business/icra-downgrades-yes-bank/article30351779.ece

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