YES BANK has received its inaugural international credit ratings from Japan Credit Rating Agency Ltd (JCR) and Rating and Investment Information, Inc. (R&I). JCR assigned an A- rating with a Stable outlook for its Foreign Currency Long-term Issuer Rating, while R&I assigned BBB+ ratings for both its Foreign and Domestic Currency Issuer Ratings, also with a Stable outlook. These ratings reflect the bank’s current creditworthiness and future prospects.
YES BANK Receives Inaugural International Credit Ratings
YES BANK has announced the assignment of its inaugural international credit ratings from two prominent rating agencies, Japan Credit Rating Agency Ltd (JCR) and Rating and Investment Information, Inc. (R&I). This development marks a significant step for the bank in communicating its financial standing to the global market.
Japan Credit Rating Agency Ltd (JCR) Ratings
Japan Credit Rating Agency Ltd (JCR) has assigned YES BANK a Foreign Currency Long-term Issuer Rating of A- with a Stable outlook. The rating rationale highlights the bank’s position as India’s sixth-largest private-sector bank and its affiliation with Sumitomo Mitsui Banking Corporation (SMBC). JCR noted the bank’s recovery trend since FY2020, improved asset quality, and diversified loan portfolio, while also considering the sovereign rating of India.
Rating and Investment Information, Inc. (R&I) Ratings
Rating and Investment Information, Inc. (R&I) has assigned YES BANK Foreign Currency Issuer Rating of BBB+ and Domestic Currency Issuer Rating of BBB+, both with a Stable outlook. R&I’s assessment incorporates YES BANK’s standalone creditworthiness and the support from its largest shareholder, SMBC, which holds a 24.9% equity interest. The agency recognized YES BANK’s extensive network, its role in the digital payments sector, and its strategic importance within the SMBC Group’s India strategy. R&I also pointed to the bank’s strengthened risk management framework and favorable net NPA ratio of 0.2%.
Details of Ratings
The ratings were assigned as follows:
- JCR: Foreign Currency Long-term Issuer Rating: A- (Outlook: Stable)
- R&I: Foreign Currency Issuer Rating: BBB+ (Outlook: Stable)
- R&I: Domestic Currency Issuer Rating: BBB+ (Outlook: Stable)
The press releases issued by JCR and R&I detailing these ratings have been enclosed with the announcement and are also hosted on the bank’s website.
Source: BSE
