Standard&Poor's holds the view that there is now a lower likelihood that the potential negative impact on ORIX Corp.'s asset quality and profitability from possible further losses in its investment and loan portfolio will exceed the level assumed in the current rating. We hold this view because of the company's revised investment policy and a more stable market. We revised the outlook on the long-term rating on ORIX to stable from negative, and affirmed the 'A-' long-term counterparty credit rating on the company. We also revised to stable from negative the outlooks on the long-term ratings on ORIX's subsidiaries, ORIX Trust&Banking Corp. and ORIX Life Insurance Corp., reflecting the change in the outlook on their parent
