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Moody’s upgrades ORIX
Moody's Investors Service said it upgraded ORIX Corp.'s issuer rating to A3 from Baa1.
The outlook is stable.
The agency said the upgrade was prompted mainly by an expectation that ORIX will sustain its improved liquidity and maintain low leverage.
The rating is also supported by ORIX's strong profitability and sound asset quality, Moody’s said.
“Since the global financial crisis in 2008-2009, ORIX has reduced its reliance on short-term debt and more broadly has lengthened its debt maturities,” the agency said in a news release.
“In so doing, it has reduced its reliance on the most confidence-sensitive sources of wholesale funding.”
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