Recently, Moody’s has lowered the Baseline Credit Assessment (BCA), long-term credit rating and Counterparty Risk Assessment (CRA) for CBA. It has lowered long-term rating for CBA to Aa3 from Aa2, while the short-term rating has been affirmed at P-1. However, the outlook on the rating has been revised to stable from negative. The rating of CBA’s New Zealand subsidiary, ASB Bank Ltd, has been lowered by one notch to A1 from Aa3. Currently, the CBA long term rating of Aa3 from Moody’s is in line with the current “AA-” long-term ratings assigned by Standard & Poors’ and Fitch Ratings.