Shares in private sector lender Yes Bank on November 10 hit 5 percent upper circuit after rating agency CARE Ratings upgraded the debt securities of the bank. On the infrastructure bonds, the rating agency has made an upgrade to 'CARE BBB' from the earlier 'CARE B'.
Yes bank’s Upper Tier II Bonds as well as Perpetual Bonds (Basel II), CARE has made an upgrade to 'CARE BB+' from the earlier 'CARE D'. For Additional Tier I Bonds (Basel III), the Rating Agency has withdrawn ratings, while for Lower Tier II Bonds as well as Tier II Bonds (Basel III), CARE has revised the ratings to 'CARE BBB' and provided from a stable outlook in comparison to the earlier 'CARE B' rating and 'Under Credit watch with Developing Implications'.
On the development, there has been witnessed a rise in volume in the Yes bank shares of as much as 4,03,88,230 on the NSE at 12.55 hrs. At the same time, Yes bank stock rose 4.65 percent on the National Stock Exchange. In comparison, the Nifty clocked t 12597-level, up by 136 points.
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