Moody's downgrades ORIX

Moody's Japan K.K. said it downgraded the ratings of ORIX Corp. and its subsidiaries.

Moody's said the action results from the implementation of its revised global rating methodology for finance companies. The updated methodology incorporates the agency's view that finance companies have vulnerabilities such as business line concentrations, a reliance on wholesale funding and asset and/or cash flow volatility.

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