Credit rating agency -- Moody's Ratings has upgraded Yes Bank's long-term foreign currency and local currency bank deposit ratings by a notch to 'Ba2', from 'Ba3', driven by a gradual improvement in the bank's credit profile. The global rating agency has upgraded Yes Bank’s Baseline Credit Assessment (BCA) to 'ba3' from 'b1'.
The upgrade of Yes Bank's ratings and BCA is driven by a gradual improvement in the bank's credit profile including its capital and loan loss reserves, which will provide sufficient buffers against the bank's unseasoned asset risks and improving yet modest profitability and funding.
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.
