Mumbai, Aug 28 (TIWN) Moody's Investors Service on Wednesday downgraded private lender Yes Bank's foreign-currency issuer rating to 'Ba3' from 'Ba1', which sent the company's stocks plunging nearly 7 per cent on the BSE.

The stock lost more than 84 percent of its value in the last one year due to corporate governance and asset quality concerns. It was quoting at Rs 58.30, down Rs 6, or 9.33 percent on the BSE at 1448 hours.  Moody's Investors Service said it has downgraded bank's long-term foreign-currency issuer rating to Ba3 from Ba1.