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YES Bank dips 10% as Moody's downgrades ratings with negative outlook

Moody's expects the bulk of YES Bank's operating profits to get consumed by loan loss provisions over the next 12-18 months, and thus not support internal capital generation.

YES Bank

YES Bank

SI Reporter Mumbai
YES Bank shares dipped 10 per cent to Rs 58 in intra-day trade on the BSE on Wednesday after Moody's Investors Service  downgraded the bank’s long-term foreign-currency issuer rating to 'Ba3' from 'Ba1'. The private sector lender's stock was trading near to its 52-week low price of Rs 53, touched on August 22, 2019.

“The downgrade of Yes Bank's ratings takes into account of the lower  than expected amount of capital raised by the bank recently; and the risk that the substantial decline in the bank's share price will challenge its ability to raise sufficient capital to maintain the

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First Published: Aug 28 2019 | 2:35 PM IST

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