Fitch rates ORIX notes A-

Fitch Ratings said it assigned a final rating of A- to ORIX Corp.’s dollar-denominated senior unsecured notes.

The $500 million bonds carry a fixed annual coupon of 2.65% and mature April 13, 2021.

The proceeds will be used for general corporate purposes.

The rating on the notes is aligned with ORIX’s long-term issuer default rating because the notes constitute unsubordinated and unsecured obligations of ORIX and rank equally with all other unsecured and unsubordinated obligations, Fitch said.

The ratings also reflect ORIX’s modest leverage, adequate liquidity and solid profitability record, the agency said.

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

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