Moody's alters ORIX outlook to stable

Moody's Investors Service affirmed ORIX Corp.'s A3 long-term issuer and senior unsecured foreign-currency ratings and changed the outlook to stable from negative.

“The change in outlook to stable reflects Moody's view that ORIX's highly diversified businesses and conservative financial policy will mitigate the direct negative impact of economic disruptions from the coronavirus pandemic on ORIX's asset quality and profitability,” the agency said in a press release.

Moody’s noted ORIX’s profitability. “ORIX's net income/average managed assets (annualized) improved to 2.2% in the first half of fiscal year ending March 2022 (fiscal 2021) from 1.4% in the same period of fiscal 2020, as the company recovers from the coronavirus pandemic. Moody's expects the company to gradually improve its profitability over the next 12-18 months, supported by a global economic recovery in 2021-22.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.