S&P Says Yes Bank AT-1 Ruling Will Not Alter Rating Despite Earnings Hit
S&P Global Ratings said India’s Supreme Court decision overturning Yes Bank’s write-off of 84 billion rupees in additional tier-1 bonds will not affect its credit rating on the lender. The ruling exposes procedural flaws in the 2020 resolution process, but S&P said Yes Bank is still expected to maintain adequate capitalisation even as the judgment creates an earnings overhang.
