Fitch rates ORIX notes A-

Fitch Ratings said it assigned an expected rating of A- to ORIX Corp.’s dollar-denominated fixed-rate senior unsecured notes due July 23, 2020.

The proceeds will be used for general corporate purposes, Fitch said.

The rating on the notes is aligned with the long-term issuer default rating of ORIX because they constitute unsubordinated and unsecured obligations and rank pari passu with all other unsecured and unsubordinated obligations, the agency said.

The ratings reflect ORIX’s modest leverage, adequate liquidity position and track record of profitability over the past half century, Fitch said.

The ratings also consider ORIX’s opportunistic acquisition and divestment strategy, which has the potential to alter its already complex business structure, the agency added.

© 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.