Private sector lender Yes Bank on Saturday said India Ratings and Research has downgraded its long-term issuer rating to βIND A+'.
βIndia Ratings and Research has downgraded Yes Bank Ltd's long-term issuer rating to βIND A+' from βIND AA-',β the bank said in an exchange filing.
βThe outlook is negative. The agency has affirmed the bank's short-term issuer rating at βIND A1+',β it added.
According to Ind-Ra, βIND AA' rating signifies βhigh degree of safetyβ regarding timely servicing of financial obligations, while instruments rated βIND A' have βadequate degree of safetyβ.
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