Fitch revises ORIX outlook to stable

Fitch Ratings said it revised the outlook on ORIX Corp. to stable from negative, and affirmed the issuer default rating at A-.

“The outlook revision reflects Fitch's assessment that reduced uncertainty in the global economy will ease pressure on ORIX's asset quality, profitability and capitalization,” the agency said in a press release.

“ORIX has shown signs of recovery and resilience in times of stress, with relatively low credit losses and asset devaluation. We expect ORIX's diversified business mix to continue to support stability in the earnings profile, while pandemic affected businesses such as concession and aircraft leasing will need to recover to support a further improvement in overall profitability,” Fitch added.

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