Moody's lifts ORIX to A3

Moody's Investors Service said it upgraded its senior unsecured debt rating, senior unsecured medium-term note rating and long-term issuer rating of ORIX Corp. to A3 from Baa1.

The outlook is stable.

The upgrade concludes a review initiated in January. It is based on Moody's view that ORIX has maintained the favorable financial performance of its diversified segments, due to stable earning sources, such as domestic corporate finance and the automobile leasing business.

It also reflects a belief that ORIX's overall risk management remains conservative, as shown by the improvement in recent years of its financial soundness indicators, the agency said.

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