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India Ratings downgrades Yes Bank

The development comes a day after another rating agency Icra lowered the bank's rating

Press Trust of India  |  New Delhi 

Ratings Wednesday downgraded Yes Bank's long-term ratings to 'IND AA-' with negative outlook.

The development comes a day after another rating agency lowered the bank's rating.

Ratings has downgraded the bank's long-term ratings, while reaffirming short term rating, said in a filing.

downgraded the ratings on its six instruments totalling borrowings over Rs 33,000 crore by the lender.

The had also reported its maiden loss of over Rs 1,506 crore in the March quarter, driven by a near ten-fold spike in provisions.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, May 08 2019. 22:36 IST
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