ICRA downgrades Yes bank's bond programme worth Rs 53000

Mumbai: Rating agency ICRA has downgraded Yes bank’s bond programme worth Rs.53000 crore to A+ from AA- owing to build-up of stressed assets in the private sector lender’s loan book.

“The rating downgrade factors in the increase in stress, as reflected by the increase in BB and below rated exposures despite slippages from these exposures, as well as the lack of resolutions,” ICRA said in a press release.

Yes Bank’s gross non-performing advances (GNPAs) and BB and below rated exposures increased to Rs.41558 crore in the June quarter from Rs.30772 crore in the March quarter.


This is rating agency’s second such downgrade of the bank’s bonds since May this year. The outlook has been kept negative.