Fitch Ratings upgrades ratings for ASB Bank Ltd

Summary by AI ^BETAClose X

Fitch Ratings has upgraded ASB Bank Limited's Long-term Foreign- and Local-Currency Issuer Default Ratings to AA- from A+, and its Short-Term Issuer Default Rating to F1+ from F1, along with a Shareholder Support Rating upgrade to aa- from a-. These upgrades follow a positive outlook revision in March 2025 and are attributed to a one-notch upgrade in the Viability Rating of ASB's ultimate parent, Commonwealth Bank of Australia. Fitch has assigned a stable outlook to ASB's newly upgraded ratings.

Disclaimer*

ASB Bank Limited

09 March 2026

ASB Bank Limited

Issuer Legal Entity Identifier (LEI): 549300IBZWZL1KTPF918

10 March 2026

Fitch Ratings upgrades ratings for ASB Bank Limited

ASB Bank Limited (ASB) announces Fitch Ratings (Fitch) has upgraded certain ratings of ASB. This follows the announcement made by ASB on 28 March 2025 that Fitch had upgraded ASB's outlook to Positive from Stable.

Fitch has upgraded ASB's Long-term Foreign- and Local-Currency Issuer Default Ratings to AA- from A+. The announcement of upgrade reflects the one-notch upgrade in the Viability Rating of ASB's ultimate parent, Commonwealth Bank of Australia, as announced on 6 March 2026. At the same time, Fitch has upgraded ASB's Short-Term Issuer Default Rating to 'F1+' from 'F1', and Shareholder Support Rating to 'aa-' from 'a+'.

Following the upgrade, Fitch has set the outlook for ASB's ratings as stable.

For a list of all the ratings actions on ASB, refer to Fitch's press release published 9 March 2026 titled "Fitch Upgrades ASB Bank Limited's Long-Term IDR to 'AA-', Outlook Stable".

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For further information, please contact:

Stephen Lucas

General Manager Treasury, ASB Bank Limited

funding@asb.co.nz

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