Moody's Investors Service on March 16 upgraded Yes Bank Limited's long-term foreign currency issuer and foreign currency senior unsecured MTN program ratings to Caa1 from Caa3 and (P)Caa1 from (P)Caa3, respectively.

It also confirmed the bank's long-term foreign and local currency bank deposit ratings at Caa1, Moody's said in a press release. Moreover, it confirmed the bank's long-term domestic and foreign currency Counterparty Risk Rating (CRR) and long-term Counterparty Risk Assessment (CR Assessment) at Caa1 and Caa1 (cr), respectively.

Lastly, it affirmed the bank's Baseline Credit Assessment (BCA) and adjusted BCA at ca.

The rating outlook is positive. Today's rating action concludes the review with direction uncertain that was initiated on Yes Bank's ratings on March 6.