S&P changes ORIX to stable

S&P said it revised the outlook on its long-term issuer credit rating on ORIX Corp. to stable from negative and affirmed the issuer credit rating and all issue ratings on the company.

The agency said the revision reflects a view that ORIX's highly profitable business franchise will underpin stable credit quality for the next two years or so even though intensifying competition is dragging down overall profitability in the domestic financial sector.

“In our view, ORIX's entity-specific strengths are likely to ease the effects of a potential weakness in funding, stemming from its not being a subsidiary of a large banking group,” S&P said in a news release.

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