Moody’s downgrades Yes Bank rating, changes outlook to negative
Moody's has cited corporate governance concerns and impact of leadership change on Yes Bank's growth plan as reasons for the rating downgrade
Mumbai: In what could spell more trouble for Yes Bank Ltd, Moody’s Investors Service on Tuesday downgraded the rating of the bank citing corporate governance concerns and impact of leadership change on the bank’s growth plan. The global rating agency lowered Yes Bank’s foreign and local currency bank deposit ratings to Ba1 from Baa3. It also downgraded Yes Bank’s baseline credit assessment (BCA) to Ba2 from Ba1.