Moody's downgrades Yes Bank rating, assigns negative outlook ahead of fund raising plan; shares fall 1.5%
Yes Bank has been finding the going tough since August last year after the RBI refused to clear the reappointment of co-promoter and chief executive Rana Kapoor.
IL&FS, which is credited for building the Chenani-Nashri tunnel, the longest in the country opened for traffic in April 2017, is sitting on an over a debt pile of Rs 91,000 crore and had been junked by rating agencies following the default.
Moody's has a 'Baa3' rating on India with a positive outlook
India’s sovereign rating by Moody’s stands at ‘Baa3’, the lowest investment grade—just a notch above ‘junk’ status.
Higher level of stress is likely to significantly impact earnings and solvency profile of PSBs over the next 2-3 years, Icra said
Ratings firm said the sudden drop in profitability of PSBs for the third quarter of the current fiscal was triggered mainly by higher provisioning
The back-to-back, contradicting observations by global agencies on seemingly related subjects can send confusing signals to the investors