ASB debt rating outlook cut 'negative' after parent CBA slammed in regulator's report

Tue, 08 May 2018

By Nikki Mandow May 8 (BusinessDesk) - The outlook on ASB Bank’s debt rating was lowered by Fitch Ratings following a damning report into the culture and governance of its parent Commonwealth Bank of Australia (CBA). The outlook on ASB's AA- long-term foreign and local currency debt ratings was cut to 'negative' from 'stable' after the Australian Prudential Regulation Authority (Apra) report released late last month criticised CBA for a myriad of issues ranging from executive pay to failing to respond to customer complaints. It made 35 re...

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