Money & Banking

ICRA upgrades ratings of YES Bank

Our Bureau. Mumbai | Updated on September 12, 2020 Published on September 12, 2020

The instruments involved in the rating amount to Rs 30,200.7 crore

Rating agency ICRA has upgraded ratings of various instruments of YES Bank following the fund raise by the private sector lender and improved capital ratios.

“The rating upgrade factors in the sizeable capital raise of Rs 15,000 crore in July 2020, which has resulted in an improvement in the capital ratios of Yes Bank. The ratios are now comfortably above the regulatory levels,” ICRA said in a statement.

The instruments involved in the rating amount to Rs 30,200.7 crore.

Infrastructure bonds and Basel II compliant Tier II bonds were upgraded to ‘BBB’ with a Stable outlook from ‘BB+’. Similarly, Basel III compliant Tier II bonds have been upgraded to ‘BBB-’ with a Stable outlook from ‘BB’. Basel II compliant Tier I bonds and upper Tier II bonds were also upgraded to ‘BB’ with a Stable outlook from an earlier rating of default.

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Published on September 12, 2020
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