Yes Bank Ltd. is returning to the bond market for the first time since the Indian private lender wrote off a risky local note in 2020, and has hired arrangers for a dollar issuance, according to people familiar with the matter. Crisil Ratings raised the bank’s rupee infrastructure bonds and Basel III compliant Tier 2 debt to AA+ in August from AA-, citing sustained improvement in Yes Bank’s earnings profile. ALSO READ: FCNR(B) swap window explained: Why RBI opened it, then advanced deadline Yes Bank’s dollar bond is rated Ba1 by Moody’s Ratings and BB+ by S&P Global Ratings, just one notch below investment grade rating.