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Yes Bank Share Latest News Moody’s Upgrade Yes Bank Rating To Stable

Yes Bank Share Update: There is good news for the...

Yes Bank Share Update: There is good news for the private sector Yes Bank. Rating agency Moody’s has upgraded the rating of Yes Bank. Moody’s has decided to make the outlook stable by changing the outlook of Yes Bank. The rating agency has upgraded the long term foreign currency issuer rating of the bank and the rating of long term foreign and local currency deposits from Ba3 to B2. The change in the rating of Yes Bank will improve the health of the bank as well as help in bringing about a change in the credit profile.

Moody’s has changed its outlook from positive to stable while changing the Yes Bank outlook. Along with this, the baseline credit assessment has also been increased from b3 to b1. Actually Carlyle and Advent International are going to invest $ 1.11 billion i.e. 8,900 crores in Yes Bank. For investment, both will be given 10 – 10 percent stake in the bank. Shares and warrants will be issued to both the investors. It is believed that after this investment, Yes Bank can be transformed.

On the other hand, according to media reports, Aditya Puri, who was the former MD of HDFC Bank, may join the board of Yes Bank. Aditya Puri will lead Carlyle’s on the board of Yes Bank. Shweta Jalan will join the board of Yes Bank as a representative of Advent International. However, for this approval from RBI will still have to be taken.

Earlier in Thursday’s trading session, Yes Bank’s stock closed at Rs 17.65 with a jump of 1.22 per cent. If we look at the movement of Yes Bank stock in the last one year, then the stock has come up 04 percent from the low level of Rs 10.50 in 52 weeks.

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