Moody's changes YES Bank's outlook to stable, stock gains over 2%

Ratings agency Moody’s chan­ged the outlook for YES Bank from negative to stable on Wednesday, citing the ba­nk’s zero divergence report an­d stable financial performance.

Moody’s affirmed YES Bank’s foreign currency issuer rating of Ba1, the bank's foreign and local currency bank deposit ratings of Ba1/NP, foreign currency senior unsecured MTN program rating of (P)Ba1, and Baseline Credit Assessment (BCA) and adjusted BCA of ba2, along with other ratings.

Moody’s assessed that the downside risks to the bank’s credit profile have diminished. The rating action takes into account recent developments, including the results of the Reserve Bank of India’s risk assessment report