Commonwealth Bank of Australia (ASX:CBA) has shrugged of the S&P downgrade of its credit rating from AA to AA-.
In a statement, the CBA Group Treasurer said she doesn’t expect the downgrade to have any material impact on funding plans.
The bank added that since the onset of the financial crisis in 2008 it has increased its capital base and improved its funding and liquidity position.
In the 2011 financial year Commonwealth Bank boosted its net profit to $6.4 billion.
