India Ratings and Research (Ind-Ra) has revised the rating watch on Yes Bank's Long-Term Issuer Rating of ‘IND BB-' to Rating Watch Evolving (RWE) from Rating Watch Negative (RWN). The instrument-wise rating actions are given below:
Basel III Tier 2 bonds - IND B+/RWE (Rating Watch revised to Evolving
from Negative)
Additional Basel III Tier 1 (AT1) bonds - rating withdrawn
Infrastructure bonds - IND BB-/RWE (Rating Watch revised to Evolving
from Negative)