With no clarity on its capital-raising plans and concerns over its asset quality, rating agency ICRA has downgraded YES Bank’s ratings. The outlook remains negative.
“The ratings downgrade considers the continued delay in capital-raising by YES Bank. This apart, ICRA expects a further increase in the quantum of stressed exposures and reported non-performing exposures, given the limited resolutions and recoveries,” the rating agency had said in a recent statement, adding that the quantum of capital-raise will also have to be increased.
As much as ₹52,911.7 crore of bonds and certificates of deposits programme of the private sector bank gets impacted by the downgrade.
On Tuesday, YES Bank scrip was largely stable and closed at ₹35.15 apiece on the BSE.
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