Global rating agency Moody's has downgraded Yes Bank's rating with a negative outlook, citing the lower-than-expected capital raising from the recent QIP issue and the plunging share prices that's a hurdle in raising more funds. The agency downgraded the bank's long-term foreign- currency issuer rating to Ba3 from Ba1, which is below investment grade or junk status.
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.
