INSUBCONTINENT EXCLUSIVE:
Yes Bank Share Price: ICRA said Yes Bank's ratings remain on watch with negative implications.Shares of Yes Bank Ltd plunged to their
lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender's debt
The fifth largest private-sector lender by assets has had a tumultuous couple of months, with its stock nearly halving in value this year
and a number of departures from its board, since the country's central bank cut short its chief executive officer's term in September
The bank's shares fell 6.1 per cent to Rs 152.15, their lowest since March 18, 2016, in early trade with more than 3.3 crore shares
changing hands by 9:31 am, compared with their 30-day average of 4.9 crore shares.ICRA downgraded domestic long-term ratings of the bank's
senior debt instruments to 'ICRA AA' from 'ICRA AA+' and its subordinate debt instruments to 'ICRA AA-' from 'ICRA AA', the bank said late
on Wednesday.Meanwhile, CARE Ratings cut domestic ratings of Yes Bank's senior debt instruments to 'CARE AA+' from 'CARE AAA' and
subordinate debt instruments to 'CARE AA' from 'CARE AA+'.Earlier this week, rating agency Moody's also downgraded the bank's foreign
currency issuer rating and changed its outlook on the bank to 'negative' from 's table', sending its shares lower.ICRA said Yes Bank's
ratings remain on watch with negative implications, while CARE said ratings remain on credit watch with developing implications.As of last
