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Moody’s, the world’s largest rating agency, advised to invest money in Yes Bank, said these things

New Delhi. After the government’s efforts to manage Yes Bank, the bank also got relief from rating agency Moody’s. Moody’s has changed the bank’s outlook to positive. The rating agency has taken this step in view of the rapid improvement in the capital position under the RBI’s restructuring plan.

Earlier in the day, Yes Bank announced that seven banks, led by SBI, have invested around Rs 10,000 crore to strengthen the bank’s capital base. Later, Reserve Bank Governor Shaktikanta Das said that the central bank will provide more capital to Yes Bank if needed.

Moody’s Investor Service said in a late afternoon statement that today (Monday) we will downgrade Yes Bank’s Long-Term Foreign Exchange Issuer (Senior Unsecured) MTN Program ratings from caa3 to (p) caa1 and ( p) to caa3 (p) respectively p) CAA1 do. Consequently, the credit outlook has been changed from negative to positive.

read this too: Without lowering the interest rate, RBI lowered your EMI, you’ll be glad to know!

The rating was lowered on March 6.
We reported that previously on March 6, Moody’s Investors Service downgraded Yes Bank Limited. This downgrade was made after the Reserve Bank prohibited Yes Bank from paying liabilities for 30 days. Moody’s downgraded Yes Bank Ltd’s long-term foreign currency issuer rating to CAA3 from B2 and also downgraded the bank’s long-term foreign and local currency bank deposit ratings.

These banks will now invest in Yes Bank
State Bank of India, ie SBI, has announced that it will buy a 49 per cent stake in Yes Bank to get out of the crisis. In this, 26 percent of the shares have a 3-year lock-in. That is, once purchased, these shares cannot be sold for 3 years. In addition to this, the private sector Axis Bank will also invest Rs 600 crore in Yes Bank. On the other hand, HDFC housing finance company has announced a capital investment of Rs 1000 crore and Kotak Mahindra Bank of Rs 500 crore. Similarly, ICICI Bank will also invest Rs 1000 crore in Yes Bank to acquire 100 crore of shares.

Also Read: Relief News for Yes Bank Customers! All banking services will start from tomorrowundefined

Tags: RBIs, rbi policy, yes bank


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