Credit rating agency, Moody’s Investor Service placed Yes Bank’s foreign currency issuer rating of Ba3 under review downgrade following its weak performance in the September quarter, leading to concerns over the bank’s overall financial position and uncertainty around regulatory approvals for its plan to raise $1.2 billion in equity capital.
Moody's also sees the bank's total dud asset to top 12 percent this year basing on bank's own assessment of over 40 percent of its Rs 30,000 crore of exposure to lower-rated entities turning sour before March.
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.
