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YES Bank shares tumble 10% after Moody's downgrades foreign currency rating

The scrip settled the day at Rs 56 on the BSE, down 9.82%

YES Bank | Moody's ratings

Nidhi Rai  |  Mumbai 

Shares of private sector lender YES Bank tumbled around 10 per cent on Friday after global rating agency Moody’s on Thursday downgraded the bank’s long-term foreign currency rating from “Ba3” to “B2”. The scrip settled the day at Rs 56 on the BSE, down 9.82 per cent.

Moody’s said the bank has potentially stressed assets and low loss-absorbing buffers which may add pressure to its funding and liquidity. This may create additional risks to its standalone credit profile. It expects YES Bank’s common equity tier-1 (CET1) ratio of 8.7 ...

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First Published: Fri, December 06 2019. 20:07 IST