Moody's affirms Ba1 rating to YES Bank; shares slip 1%

NEW DELHI: YES Bank shares slipped over 1 per cent in morning trade on Thursday even as Moody's Investors Service Wednesday affirmed Ba1 rating to the company and changed the outlook to stable from negative.

The rating action takes into account recent developments including the results of Reserve Bank of India's (RBI) risk assessment report (the so-called divergence report); and stable financial performance, Moody's said in a statement.

YES Bank had earlier informed stock exchanges that RBI has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.


But RBI pulled up the bank, saying that ‘nil’ divergence is not an achievement to be published and is only compliance with the extant Income Recognition and Asset Classification norms.

Shares of the company traded 1.12 per cent down at Rs 215.45 on BSE around 10:15 am.