Latest News
-
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault -
Reliance, ONGC, Tata, Adanis: Energy Stocks Didn't Get The Memo Of Bears, Up 12% In 30-Days; 10 Stocks To BUY
Moody's Upgrades Yes Bank's Rating With Positive Outlook
On Monday, rating agency Moody's upgraded its ratings on Yes Bank with a positive outlook, following the fast capital restructuring scheme mandated by the Reserve Bank of India.
"We today upgraded YES Bank long-term foreign currency issuer and foreign currency senior unsecured MTN programme ratings to Caa1 from Caa3 and (P)Caa1 from (P)Caa3 respectively," Moody's Investors Service said in a late evening statement.
Accordingly, the credit outlook has also been changed to positive from negative.
Note that 'Caa' ratings are below investment grade.
The rating upgrade came after RBI governor Shaktikanta Das in a press briefing on Monday said that the central bank will support the troubled bank with liquidity, if needed. He also assured that the money of the depositors remains safe.
Seven banks, led by the State Bank of India (SBI) have infused Rs 10,000 crore into Yes Bank via the equity route, to boost its core capital.
Other investors include Kotak Mahindra Bank, ICICI Bank and HDFC.
The capital infusion comes after RBI's reconstruction scheme was approved by the government over the weekend. The central bank had placed Yes Bank under a moratorium on 5 March, superseded its board and appointed former SBI CFO Prashant Kumar as the administrator.
Kumar will be taking over has the CEO and MD of the restructured Yes Bank and the moratorium will be lifted at 6 pm on 18 March.
