India Ratings (Ind-Ra) has downgraded long-term issuer rating of Yes Bank for the second time in two months on certain debt instruments to 'A-' from 'A' and also maintained it on the rating watch 'negative'. It reflects continued delay and inconclusive quantum of the anticipated equity infusion in the beleaguered bank. The downgrades are on three bonds worth Rs 25,680 crore. The domestic agency had downgraded rating of the bank on December 19, 2019.
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.
