India's Yes Bank AT-1 ruling won't impact ratings despite earnings hit, S&P says
Yes Bank faced a setback as India's Supreme Court overturned its write-off of 84 billion rupees in bonds. S&P Global Ratings stated the ruling would not impact its credit rating of the bank. The decision highlights procedural errors in the 2020 write-down process, which regulators had supported. Despite this ruling, Yes Bank is expected to maintain...
Key Takeaways
- Yes Bank faced a setback as India's Supreme Court overturned its write-off of 84 billion rupees in bonds.
- S&P Global Ratings stated the ruling would not impact its credit rating of the bank.
- The decision highlights procedural errors in the 2020 write-down process, which regulators had supported.
Yes Bank faced a setback as India's Supreme Court overturned its write-off of 84 billion rupees in bonds. S&P Global Ratings stated the ruling would not impact its credit rating of the bank. The decision highlights procedural errors in the 2020 write-down process, which regulators had supported. Despite this ruling, Yes Bank is expected to maintain adequate capitalization in the future.
Original Publisher Attribution
This summary was curated from Economic Times.