New Delhi: Moody’s Investors Service on Friday downgraded Yes Bank Limited rating. The Reserve Bank has stopped Yes Bank from paying its liabilities for 30 days, after which the rating was reduced.
Moody’s downgraded Yes Bank Limited’s long-term foreign exchange issuer rating from B2 to CAA3 and said “the rating will remain under review with an uncertain direction.” Moody’s has also downgraded the bank’s long-term foreign and local currency bank deposit rating.
Moody’s also said that he fully expected that the depositors would suffer the least. The rating agency said, “RBI’s assurances to protect the interests of depositors provide full confidence that depositors’ risk of loss is low.”
