India ratings downgrades Yes Bank, outlook negative
"The outlook is negative. The agency has affirmed the bank's short-term issuer rating at 'IND A1+'," it added.
By PTI | Updated:
Mumbai: Private sector lender Yes Bank on Saturday said India Ratings and Research (Ind-Ra) has downgraded its long-term issuer rating to 'IND A+'.
"India Ratings and Research has downgraded Yes Bank Ltd's long-term issuer rating to 'IND A+' from 'IND AA-," the bank said in a BSE filing.
"The outlook is negative. The agency has affirmed the bank's short-term issuer rating at 'IND A1+'," it added.
According to Ind-Ra, 'IND AA' rating signifies "high degree of safety" regarding timely servicing of financial obligations, while instruments rated 'IND A' have "adequate degree of safety".
"India Ratings and Research has downgraded Yes Bank Ltd's long-term issuer rating to 'IND A+' from 'IND AA-," the bank said in a BSE filing.
"The outlook is negative. The agency has affirmed the bank's short-term issuer rating at 'IND A1+'," it added.
According to Ind-Ra, 'IND AA' rating signifies "high degree of safety" regarding timely servicing of financial obligations, while instruments rated 'IND A' have "adequate degree of safety".
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