Moody's Investors Service has downgraded Yes Bank's foreign currency issuer ratings to ‘Ba1’ from ‘Baa3’. The outlook, where applicable, has been changed to negative from stable.
At the same time, Moody's has affirmed the bank's counterparty risk assessment (CR Assessment) of Baa3 (cr)/P-3 (cr) and domestic and foreign currency counterparty risk rating (CRR) of Baa3/P-3.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
