Moody's upgrades Yes Bank's ratings; outlook changed to positive

Moody's Investors Service on March 16 upgraded Yes Bank Limited's long-term foreign currency issuer and foreign currency senior unsecured MTN program ratings to Caa1 from Caa3 and (P)Caa1 from (P)Caa3, respectively.

It also confirmed the bank's long-term foreign and local currency bank deposit ratings at Caa1, Moody's said in a press release. Moreover, it confirmed the bank's long-term domestic and foreign currency Counterparty Risk Rating (CRR) and long-term Counterparty Risk Assessment (CR Assessment) at Caa1 and Caa1 (cr), respectively.

Lastly, it affirmed the bank's Baseline Credit Assessment (BCA) and adjusted BCA at ca.