DBRS Assigns Rating to The KCL Master Trust KS(1)L Series K-Note

DBRS Limited (DBRS) has today assigned a rating of AA to the KS(1)L Series K-Note (the K-Note) issued by The KCL Master Trust. Payments due to the owner of the K-Note are guaranteed by Commonwealth Bank of Australia (CBA). The rating on the K-Note mirrors DBRS’s rating on the Senior Debt of CBA.

The rating is assigned at the request of the owner of the K-Note for regulatory purposes.

Notes:
The applicable methodology is Structured Finance Flow-Through Ratings (January 2015), which is available on our website under Methodologies.

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