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ICRA downgrades Yes Bank bonds; cites corporate governance concerns

Thursday, November 29, 2018, 9:20 AM

Rating agency ICRA has downgraded long-term ratings for Yes Bank. "The long-term ratings continue to remain on watch with negative implications," it said in note, adding the rating downgrade considers the series of resignations from board of directors, which raises concerns on corporate-governance at the bank. "Amid all these developments, stability in the deposit-base will remain a key monitorable," ICRA said in the note.