YES Bank shares rise 1.39% to Rs 23.98 after S&P and ICRA assign stable ratings
AI Market Summary
S\u0026P Global and ICRA assigned YES Bank issuer ratings with a stable outlook, and ICRA upgraded its infrastructure bond rating to AA, citing SMBC\u0027s 24.9% strategic stake and improving asset quality, capitalization, deposits, and net interest margin. The stock rose ~1.4% on the news. Constraints highlighted include below-average spreads and a high cost-to-income ratio, limiting the broader sector read-through.
Impact level
● Low
Affected assets
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● Neutral
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S&P Global Ratings and ICRA on Friday assigned YES Bank long-term ratings of BB+ with a stable outlook, while ICRA also rated the lender’s infrastructure bonds at ICRA AA. The action follows Sumitomo Mitsui Banking Corp. (SMBC) completing a 24.9% strategic stake buy and ongoing improvement in asset quality, according to the rating agencies. YES Bank shares rose 1.39% to Rs 23.98, and were up 25% over three months. The agencies cited comfortable capitalisation, deposit growth and improving net interest margin, while flagging below-average spreads and a high cost-to-income ratio as constraints.
