Fitch assigns A- to ORIX notes

Fitch Ratings said it assigned ORIX Corp.’s (A-/stable) $700 million fixed-rate senior unsecured notes a rating of A-.

Proceeds will be used for general corporate purposes.

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

The issuer default rating reflects ORIX's modest leverage, adequate liquidity position and solid profitability record. The issuer default rating also factors in ORIX's opportunistic acquisition and divestment strategy, which has the potential to alter its already-complex business structure, the agency explained.

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