 "yes bank")
India Ratings (Ind-Ra) has downgraded Yes Bank’s long-term issuer rating to ‘A-’ from ‘A’ while maintaining it on Rating Watch Negative (RWN). The downgrade reflects the continued delay and inconclusive quantum of the anticipated equity infusion in the bank.
This is the third downgrade of the private sector lender by Ind-Ra in last one year — which could adversely impact the bank’s franchise and potentially create challenges on asset and liability side.
The bank has sizable foreign currency liabilities and institutional deposits. However, the required capital infusion is critical for providing sufficient cushion to the possible credit cost impact from
