CARE Ratings assigns A1 rating to YES SECURITIES Rs 100 crore Commercial paper

YES Securities (India) Limited (YSIL), the wholly-owned Investment Banking, Merchant Banking, Wealth Broking & Investment Advisory subsidiary of YES BANK Limited (YBL), has been assigned a short-term 'A1' rating by Care Ratings for its Rs 100 crore commercial paper programme. The CARE A1 rating signifies the issuer offers adequate degree of safety regarding timely servicing of financial obligations and carries low credit risk.

The CARE A1 rating is based on the following key rating strengths of YSIL.

Parentage of YES BANK Limited, managerial and operational linkage and expected financial support from the Bank. It also includes the broader benefits derived from shared brand identity with the Bank.

Established retail broking franchise, experienced management team, and adequate risk management systems and processes.

YSIL plans to diversify its clientele outside YBL customers; however, it is expected to remain a strategic subsidiary for the Bank for providing service to its clients and enabling the Bank to cross-sell banking products to the clients.

Care Ratings also noted that YES BANK has extended its brand identity and shared the brand name of 'YES' with YSIL.

Shares of Yes Bank Limited was last trading in BSE at Rs. 14.14 as compared to the previous close of Rs. 13.90. The total number of shares traded during the day was 11680083 in over 13904 trades.

The stock hit an intraday high of Rs. 14.25 and intraday low of 13.95. The net turnover during the day was Rs. 164806293.00.

Source : Equity Bulls

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YesBank INE528G01035 YesSecurities RatingUpdate