November 29, 2018 / 4:17 AM / 6 months ago

BUZZ-India's Yes Bank hits lowest in over 2-1/2 yrs after ICRA, CARE downgrade

** Shares in private-sector lender Yes Bank Ltd fall as much as 6.1 pct to 151.15 rupees - lowest since March 2016

** Bank said here late on Wednesday ICRA downgraded domestic long-term ratings of senior debt instruments to 'ICRA AA' from 'ICRA AA+' and subordinate debt instruments to 'ICRA AA-' from 'ICRA AA'

** CARE Ratings cut domestic ratings of senior debt instruments to ‘CARE AA+’ from ‘CARE AAA’ and subordinate debt instruments to ‘CARE AA’ from ‘CARE AA+’

** ICRA said ratings remain on watch with negative implications, while CARE said ratings remain on credit watch with developing implications

** More than 35.8 mln shares traded by 0405 GMT vs 30-day avg volume of 49 mln

** Stock down 48.6 pct this year as of last close

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