YES Bank hits 5% upper circuit as CARE upgrades debt instrument rating

The revision in the ratings factors in the improvement in the credit profile of the bank post the implementation of the reconstruction scheme, the rating agency said

Shares of YES Bank were locked in 5 per cent upper circuit for second straight day at Rs 13.54 on the BSE on Tuesday after rating agency CARE Ratings upgraded the ratings, with stable outlook, assigned to the bank's debt instruments. Till 02:48 pm, a combined 88 million shares had changed hands and there were pending buy orders for around 47 million shares on the NSE and BSE, exchanges' data show. In comparison, the S&P BSE Sensex was up 1.4 per cent at 43,191 points.

“The revision in the ratings assigned to the debt instruments of YES Bank factors