YES BANK: Update on Yes Bank came after market closed- rating changed

News Topical, Digital Desk : YES BANK: International rating agency Moody's has announced a change in the credit rating of YES BANK. According to a CNBC Awaaz report, YES BANK's credit rating has been increased from Ba3 to Ba2. Along with this, the agency has also made the bank's outlook 'stable'. Moody's has made this change keeping in mind the improvement in the bank's credit profile.

Moody's decision has received a positive response from YES BANK investors and the market. The bank's strong business position and better performance are being cited as the main reasons for this rating upgrade. News of stake increase Recently, there have been reports of Japanese financial firm Sumitomo Mitsui Banking Corporation (SMBC) increasing its stake in YES BANK, which Moody's has described as a credit positive step for the bank. The partnership with SMBC will benefit the bank with strong funding and better balance sheet for the long term. Moody's has said that the bank's increasing funding capacity and better management have strengthened its credit profile, making it possible to improve the rating. Along with this, investors expect stability in the future as the bank's outlook remains stable. Impact on shares YES BANK's shares have also seen a rise in the market, which has increased further after Moody's announcement. Experts believe that this rating upgrade will help the bank increase investor confidence.

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