Yes Bank rises 5% after rating upgrade
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MUMBAI, Aug. 28 -- Shares of Yes Bank rose 4.7% after CRISIL upgraded its rating on the lender's certificates of deposit (CDs) to A2+.
At 0105 pm, shares of Yes Bank traded at Rs.14.97 apiece, up 1.8% from its previous close, while the benchmark Sensex was up 0.9% at 39473.10.
Yes Bank on Thursday said that CRISIL has upgraded its rating on the bank's Rs.20,000 crore certificates of deposit (CD) to A2+ from A2. The rating agency also reaffirmed its 'BBB/Stable' rating on the bank's Tier-II bonds (under Basel III) and infrastructure bonds.
Crisil said the upgrade in the short term rating reflects improvement in the funding and liquidity profile of the bank, with gradual increase in its deposit base as well as sizeable capital raised rec...
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