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ICRA, CARE downgrade Yes Bank’s debt instruments ratings

Rating agency, ICRA has downgraded Yes Bank’s domestic long term ratings of Senior Debt Instruments to ‘AA’ from ICRA ‘AA+’ of and Subordinate Debt Instruments to ‘AA-’ from ‘AA’. The ratings remain on watch with negative implications.

CARE Ratings has also downgraded the bank’s domestic ratings of Senior Debt Instruments to ‘AA+’ from ‘AAA’ and Subordinate Debt Instruments to ‘AA’ from ‘AA+’. The ratings remain on credit watch with developing implications.

Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.

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