May 7 (Reuters) - Fitch Ratings on Monday downgraded its outlook on Australian lender CBA's CBA.AX Issuer Default Rating (IDR) to 'negative' from 'stable', citing risks associated with ongoing inquiries into the sector which it says may leave CBA in a weaker operating environment than its peers.
The rating agency, however, affirmed the IDR at 'AA-' saying it expects the lender "will maintain its strong franchise and sound financial profile despite negative findings from an independent prudential inquiry into its governance, culture and accountability".