YES Bank falls 5% as ICRA downgrades bonds rating

ICRA downgraded Yes Bank's tier-I and tier-II bonds and infrastructure debt on deterioration in the credit quality of large ticket borrowers.

Shares of YES Bank slipped 5 per cent to Rs 167 early morning trade on the BSE on Monday, after rating agency Icra downgraded the bank's tier-I and tier-II bonds and infrastructure debt on deterioration in the credit quality of large ticket borrowers.

The rating action, acccording to Icra, factored in further weakening in core equity (CET-I) capital cushion, due to voluntary provisions and consequent losses in Q4FY19. The rating agency has also downgraded the lender's tier-I bond from "AA-" to "A" and tier-II bonds from "AA" to "AA-". The outlook being negative on both bonds. CLICK HERE