TOKYO (Standard&Poor's) July 3, 2009--Standard&Poor's Ratings Services said today that its ratings on ORIX Corp. (A-/Negative/--) and its group companies would be unaffected by the company's announcement yesterday that it will issue 18,000,000 shares of common stock through a public offering, including a maximum 1,710,400 shares to be issued via overallotment by the end of July. Standard&Poor's views the capital increase as a positive factor because it will enhance ORIX group's financial base. However, we are also of the opinion that it will have a limited effect on improving the group's credit quality, given the likelihood of the group's asset holdings deteriorating and uncertainty over profitability. The capital increase will be worth up to
