Outlooks On ORIX Corp. And ORIX Bank Revised to Negative; Ratings Affirmed At 'A-'

Japan's economy has been recovering at a slower pace than we originally expected, and this will likely constrain the profitability and asset quality of its financial institution groups, in our view. To reflect this view, we are revising to negative from stable our outlooks on ORIX Corp. and subsidiary ORIX Bank Corp. At the same time, we are affirming our 'A-' ratings on both entities. We are changing our assessment of the group status of ORIX Bank to "strategically important" from "highly strategic," given its relatively weaker profit contributions to and limited synergies with the ORIX group. TOKYO (Standard&Poor's) Oct. 28, 2015--Standard&Poor's Ratings Services today said that it has revised to negative from stable its outlooks

...+ Japan's economy has been recovering at a slower pace than we originally expected, and this will likely constrain the profitability and asset quality of its financial institution groups, in our view. + To reflect this view, we are revising to negative from stable our outlooks on ORIX Corp. and subsidiary ORIX Bank Corp. At the same time, we are affirming our 'A-' ratings on both entities. + We are changing our assessment of the group status of ORIX Bank to "strategically important" from "highly strategic," given its relatively weaker profit contributions to and limited synergies with the ORIX group. TOKYO (Standard & Poor's) Oct. 28, 2015--Standard & Poor's Ratings Services today said that it has revised to negative from stable its outlooks on Japan-based ORIX Corp. and subsidiary ORIX Bank Corp. At the same time, we have affirmed our 'A-' long-term counterparty credit ratings on both entities. We have also affirmed our ratings on the senior unsecured debt issued by ORIX Corp. We will...

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