NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned senior long-term and short-term debt ratings of AA- and K1+, respectively, to Commonwealth Bank of Australia (CBA), an international financial services group. The outlook on all ratings is stable.
The ratings of Commonwealth Bank of Australia are supported by the Bank’s sound financial fundamentals as indicated by improving asset quality, healthy capital levels, and stable earnings trends. The ratings are also reflective of the institution’s strong franchise value and diversified business mix. These strengths are balanced by concerns surrounding the mixed economic outlook in Australia, the continued low interest rate environment, and CBA’s relatively high proportion of wholesale funding.
The ratings are based on publicly available information and utilize KBRA’s SRS Foreign Bank Methodology, published on June 10, 2011 and Global Bank and Bank Holding Company Rating Methodology, published on May 2, 2013. This rating was not solicited by Commonwealth Bank of Australia and the bank did not participate in the ratings process.
