Around 32 debt mutual fund schemes held now downgraded debt papers of Yes Bank worth around Rs 3,632 crore, in their portfolios in March revealed. The rating agency ICRA downgraded the ratings on long term bonds of Yes Bank with a negative outlook on May 03. ICRA in a release stated “with a sizeable increase in the share of BB and below rated advances and the weakened capital cushions, the outlook on the ratings remains Negative.”
ICRA had earlier downgraded the long-term ratings of Yes B ..
