Yes Bank goes "negative"

The stress in Yes Bank continues. The stock today slipped almost 6% to Rs.58.40 while its 10% LC stands at Rs.55.90. Its market cap is at Rs.14,997 crore.

The stock price has fallen after Moody’s downgraded the credit rating of the bank.

In its report it stated that the situation of stressed assets and low loss-absorbing buffers against those assets led to the downgrade. It has assigned a 'negative outlook'.

Moody’s said this downgrade reflects the risk of further deterioration in the bank's solvency, funding or liquidity, if the bank is unable to recapitalise itself within the next few quarters.