Yes Bank: Moody’s improves the rating of Yes Bank, the bank returning from the improvement in financial health
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Yes Ban Rating Upgrade: The financial health of the private sector bank Yes Bank is showing improvement. Due to which credit rating agency Moody’s Investors Service has announced to upgrade the credit rating of Yes Bank. Moody’s downgrades Yes Bank’s rating to B2. Whereas earlier it got B3 rating. Earlier, the outlook of Yes Bank was increased from stable to positive.
Signs of improvement in the financial health of Yes Bank
Moody’s upgraded Yes Bank’s rating from B3 to B2 saying that the bank’s funding and liquidity have improved significantly in the last one year, thereby strengthening the confidence of depositors and creditors in the bank. Moody’s has also upgraded Yes Bank’s Baseline Credit Assessment (BCA) by upgrading it two places from caa2 to b2. Moody’s has revised the rating due to the improvement in the bank’s credit profile, recovery of risky assets along with expected improvement in capital and profits.
Good results increase confidence
According to Moody’s, there has been a slight decline in the asset quality of Yes Bank despite the economic challenges arising due to the Corona epidemic, while the capital of the bank has been stable. Moody’s downgraded Yes Bank’s rating a year and a half ago after RBI’s 30-day moratorium on withdrawal and lending on Yes Bank. Changes were also made in the management of the bank. Then the government and RBI together bailed out Yes Bank from the crisis.
Yes Bank’s quarterly results in the July to September quarter have been better. During this period, the profit of the bank has increased by 74 percent from Rs 74 crore to Rs 225 crore. The NPAs of the bank have also declined during this period. After Moody’s rating upgrade, Yes Bank’s stock is trading with a gain of 2 per cent at Rs 13.30 on Thursday.
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