YES Bank gains 11%, hits 10-week high as Crisil affirms bonds rating at BBB

The ratings are underpinned by the expectation of continued extraordinary systemic support from key stakeholders and sizeable ownership by the SBI, Crisil said

Shares of YES Bank leaped 11 per cent to a 10-week high of Rs 31.95 on the BSE on Monday after rating firm Crisil reaffirmed BBB ratings on the bank’s over Rs 18,000 crore bonds on the back of continued support by the State Bank of India (SBI). The lender's stock was trading at its highest level since March 27, 2020..

“Crisil has assigned its 'CRISIL BBB/Stable' rating to the tier II bonds (under Basel III) of Rs 13,941 crore and infrastructure bonds of Rs 3,780 crore of YES Bank, and has reaffirmed its 'CRISIL A2' rating on certificates