TOKYO (Standard&Poor's) Jan. 27, 2009--Standard&Poor's Ratings Services today revised the outlooks on its long-term counterparty ratings on ORIX Corp. (ORIX), ORIX Trust and Banking Corp., and ORIX Life Insurance Corp. to negative from stable. The downward revisions reflect possible asset quality deterioration, mainly relating to ORIX's exposure to corporate and real estate-related assets. They also reflect mounting uncertainty over the firms' ability to maintain stable profitability, especially in the real estate sector, amid a weakening Japanese economy and stagnant real estate market. At the same time, Standard&Poor's affirmed its 'A-' long-term counterparty ratings on the three companies, as well as its 'A-' financial strength rating on the life insurer. ORIX's real estate-related assets account
