YES Bank Limited Update on Credit Ratings-Moody's Investors & ICRA (1235V)

TIDM16ER

RNS Number : 1235V

YES Bank Limited

05 August 2022

YBL/CS/2022-23/Int/16

August 5, 2022

 
 India International Exchange              The Singapore Exchange Securities 
  IFSC Limited                              Trading Limited 
  101 First Floor, Hiranandani Signature    2, Shenton Way #19-00 
  Tower,                                    SGX Centre 1, Singapore 068804 
  GIFT City IFSC - 382355, Gujarat, 
  India 
 The London Stock Exchange 
  10, Paternoster Square, 
  London, EC4M 7LS 
 

Dear Sirs,

   Sub.:   Update on Credit Ratings by Moody's Investors Service & ICRA 

In terms of Regulation 30 of the Indian Listing Regulations, we would like to update on:

1. Press release issued by Moody's Investors Service titled "Moody's upgrades Yes Bank's rating to Ba3 from B2; changes outlook to stable ". Summarizing rating action as below:

 
 Particulars                                                                Rating Action 
 Long-Term Foreign Currency Issuer Rating, Long-term (Local and Foreign     Upgraded to Ba3 from B2 
 Currency) Deposit Rating                                                    (Outlook changed to Stable from Positive) 
                                                                           ------------------------------------------- 
 Baseline Credit Assessment (BCA) and Adjusted BCA                          Upgraded to b1 from b3 
                                                                           ------------------------------------------- 
 Senior Unsecured (Foreign Currency) Medium-Term Note Program               Upgraded to (P) Ba3 from (P) B2 
                                                                           ------------------------------------------- 
 

2. Press release issued by ICRA titled "Ratings upgraded/reaffirmed; outlook revised to Positive from Stable". Summarizing rating action as below :

 
       Instrument                             Rating Action 
 Infrastructure Bond,      [ICRA]A-(Positive); upgraded from [ICRA]BBB(Stable) 
  Basel II - Lower Tier     and outlook revised to Positive from 
  II Bond                   Stable 
                          ----------------------------------------------------- 
 Basel III - Tier II       [ICRA]A-(Positive); upgraded from [ICRA]BBB-(Stable) 
  Bond                      and outlook revised to Positive from 
                            Stable 
                          ----------------------------------------------------- 
 Basel II - Tier I Bond,   [ICRA]BBB+(Positive); upgraded from 
  Basel II - Upper Tier     [ICRA]BB+ and outlook revised to Positive 
  II Bond                   from Stable 
                          ----------------------------------------------------- 
 Basel III - Additional    [ICRA]D; reaffirmed 
  Tier I Bond* 
                          ----------------------------------------------------- 
 Basel III - Additional    [ICRA]BB(Positive); upgraded from [ICRA]C 
  Tier I Bond               and Positive outlook assigned 
                          ----------------------------------------------------- 
 

* Was written down as a part of the restructuring of liabilities

We request you to kindly take the same on your record. The press release on ratings and the rationale is enclosed herewith.

The same is also being hosted on the Bank's website at www.yesbank.in

You are requested to take the same on record and acknowledge the receipt.

Thanking you,

Yours faithfully,

For YES BANK LIMITED

Shivanand R. Shettigar

Company Secretary

Encl: As above

http://www.rns-pdf.londonstockexchange.com/rns/1235V_1-2022-8-5.pdf

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August 05, 2022 07:22 ET (11:22 GMT)