CARE Ratings put certain YES Bank debt instruments on credit watch

The Senior and Tier-II instruments issued by the Bank, which were upgraded to AAA with a stable outlook from AA+ on July 5, 2018, now carry a rating of AAA credit watch with developing implications

Credit rating agency CARE had put some of its debt instruments on ‘credit watch with developing implications’, on account of the Reserve Bank of India’s (RBI’s) recent communication restricting the tenure of Managing Director and Chief Executive Officer Rana Kapoor till January 31, 2019, the bank said on Monday.

“The Senior and Tier-II instruments issued by the Bank, which were upgraded to CARE AAA with Stable Outlook from CARE AA+ on July 5, 2018, now carry a rating of ‘CARE AAA (credit watch with developing implications),” YES Bank said in a press release.