Fitch: ORIX unaffected by acquisition

Fitch Ratings said it does not expect any rating impact on ORIX Corp. (A-/stable) from its planned acquisition of 30% of Avolon Holdings Ltd. (BB/positive) through its wholly owned subsidiary ORIX Aviation Systems Ltd.

The agency said it views ORIX's leverage as modest and the transaction is expected to complement ORIX's existing aircraft leasing businesses.

ORIX Aviation plans to acquire a 30% equity interest in Avolon from its current ultimate 100% owner, Bohai Capital Holding Co., Ltd.

The purchase price is about $2.2 billion. ORIX has not disclosed how the acquisition will be financed, Fitch said.

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