Moody's rates Orix bond Baa1

Moody's Investors Service said it assigned a Baa1 rating to Orix Corp.'s $1 billion five-year senior unsecured bond.

The outlook is positive.

Moody's said it is confident in the prospect of Orix maintaining reasonable financial performances from its highly diversified business segments, particularly domestic automobile leasing. The agency added that this segment is likely to continue contributing to the stable growth of Orix's consolidated earnings and profitability as it provides value-added services including maintenance leases to the company's domestic small-to-medium sized clients.

The agency said it will continue to monitor Orix's corporate resource allocation strategy and the conservatism of its overall risk management.

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