YES Bank dips 5% after Moody's downgrades ratings, assigns negative outlook

Shares of YES Bank dipped 5.5 per cent to Rs 58.70 on the BSE on Friday after Moody’s downgraded the bank's long-term foreign currency issuer rating to 'B2' from 'Ba3', as potentially stressed assets and low loss-absorbing buffers may add pressure to its funding and liquidity. The global rating agency assigned negative outlook on the bank’s rating.

The private sector lender's stock was trading at its lowest level since October 31, 2019.

Moody's expects Yes Bank's common equity tier-1 (CET1) ratio of 8.7 per cent at the end of September 2019 to come under significant pressure, unless the