Bezos buys Warner Estate; Ind-Ra downgrades YES Bank rating : News Reel: Business Today
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Bezos buys Warner Estate; Ind-Ra downgrades YES Bank rating

February 13, 2020

Amazon CEO Jeff Bezos, the world's wealthiest person, has purchased a Beverly Hills mansion known as the Warner Estate from media mogul David Geffen for $165 million, a source familiar with the deal said on Wednesday. The sale price is believed to be the highest in a Los Angeles-area residential real estate transaction; India Ratings and Research (Ind-Ra), a part of Fitch Group, on Wednesday downgraded YES Bank's long-term issuer rating, while maintaining it on 'Rating Watch Negative' (RWN). The rating downgrade was attributed to continued delay and inconclusive quantum of the anticipated equity infusion in YES Bank; Microsoft Corp Chief Executive Officer Satya Nadella is planning to visit India later this month according to Reuters. Nadella is planning to be in India between Feb 24 and Feb 26 and will likely visit New Delhi. Watch this and more on News Blast.

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