TOKYO (Standard&Poor's) Oct. 31, 2005--Standard&Poor's Ratings Services said today there would be no rating impact on ORIX Corp. (A-/Stable/--) from its acquisition of Houlihan Lokey Howard&Zukin, a U.S. investment bank. Costs and business risks associated with the purchase are expected to be within the tolerance of the current ratings on ORIX. In addition, the company can expect some synergy effects in its lending to small and midsize enterprises (SMEs) in the U.S. by combining its own loan business and that of Houlihan Lokey. In recent years, ORIX divested its commercial mortgage-backed securities (CMBS) operations in the U.S. and reduced its asset size in the country. Expanding its franchise in the U.S. through acquisition may
