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Moody's upgrades YES Bank's rating to B2; outlook 'positive'

Yes Bank's asset quality has deteriorated only modestly while its capital has remained stable

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YES Bank | Moody's

Abhijit Lele 

YES Bank
At the same time, Moody’s has changed the outlook on the bank’s ratings from “stable” to “positive”

Rating agency Moody’s has upgraded private sector lender YES Bank’s long-term foreign currency issuer rating from “B3” to “B2”, factoring in substantial improvement in funding and liquidity, which has strengthened depositor and credit confidence in the bank.

At the same time, Moody’s has changed the outlook on the bank’s ratings from “stable” to “positive”.

This reflects expectation of a further improvement to the bank’s credit profile, driven by a clean-up of legacy stressed assets as well as improvements to capital and profitability. The long-term foreign and local currency deposit ratings are also upgraded from “B3” to “B2”.

Despite the significant economic challenges since the onset of the pandemic, Yes Bank's asset quality has deteriorated only modestly while its capital has remained stable.

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First Published: Thu, November 11 2021. 02:28 IST
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