Fitch upgrades outlook for ASB Bank Limited

ASB Bank Limited (ASB) announces Fitch Ratings (Fitch) has upgraded ASB’s ratings outlook to Positive from Stable. Fitch has revised the outlook on ASB’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to Positive, from Stable, and has affirmed the ratings at ‘A+’. At the same time, Fitch has affirmed the Short-Term IDR at 'F1' and Shareholder Support Rating at 'a+'. The announcement of upgrade follows the upgrade to Positive from Stable in the outlook on the Long-Term IDR of ASB’s ultimate parent, Commonwealth Bank of Australia, as announced on 27 March 2025. For a list of all the ratings actions on ASB, refer to Fitch’s press release published 28 March 2025 titled “Fitch Revises Outlook on ASB Bank to Positive; Affirms at ‘A+’”. ENDS Released by: Steve Lucas, General Manager, Treasury ASB Bank Limited funding@asb.co.nz