Home / Markets / News / YES Bank hits over 4-mth high on rating upgrade; stock gains 50% in 1 month

YES Bank hits over 4-mth high on rating upgrade; stock gains 50% in 1 month

Brickwork Ratings has upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) from BWRD to BWR BB+/ Stable.

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With no disclosure on the true extent of losses, it may be difficult to convince depositors to continue to hold their funds in YES Bank

SI Reporter Mumbai

2 min read Last Updated : Dec 09 2020 | 9:35 AM IST

Shares of YES Bank hit an over four-month high of Rs 18.90, up 9 per cent on the BSE in early morning trade on Wednesday after the bank announced that Brickwork Ratings has upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) from BWRD to BWR BB+/ Stable. The stock of the lender was trading at its highest level since July 22, 2020.

With today’s gain, the stock of YES Bank has rallied 50 per cent in the past one month, as compared to a 9.5 per cent rise in the S&P BSE Sensex.

“The rating upgrade factors in improvement

Topics : YES Bank Buzzing stocks Markets

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