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Saturday, July 21, 2018

Care Ratings upgrades YES Bank ratings

Yes Bank, the country’s fourth-largest private sector lender, on Thursday said Care Ratings has upgraded its ratings on multiple instruments. 

By: ENS Economic Bureau | Mumbai | Published: July 7, 2018 4:12:26 am
yes bank, yes bank ratings, yes bank care ratings, care ratings, india banking sector, indian express, economy news YES Bank on Wednesday said it had received approval from capital markets regulator Sebi to start a mutual fund business.

Yes Bank, the country’s fourth-largest private sector lender, on Thursday said Care Ratings has upgraded its ratings on multiple instruments. Ratings on infrastructure bonds and tier-II bonds have been upgraded to ‘AAA’ from ‘AA+’ and for perpetual and additional tier I Bonds has been upgraded to ‘AA+’ from ‘AA’, it said in a release. Outlook on both the ratings is stable, it added.

Speaking on the upgrade, Managing Director and Chief Executive Officer Rana Kapoor said, “This rating upgrade from Care Ratings is a reflection of YES Bank’s sustainable growth-oriented business model coupled with robust risk management policies, demonstrated and proven track record in asset quality preservation, rapidly growing Branch Banking presence and a strong execution focused management team”. YES Bank on Wednesday said it had received approval from capital markets regulator Sebi to start a mutual fund business.

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