 Moodys Japan K.K. has affirmed ORIX Corporations A3 long-term issuer and senior unsecured foreign ratings. At the same time, Moodys has changed ORIXs outlook to negative from stable, reflecting Moodys assessment that the rapid and widening spread of the coronavirus and the deteriorating global economic outlook will likely have a direct negative impact on ORIXs asset quality and profitability. Todays action reflects the impact on ORIX of the breadth and severity of the shock, and the deterioration in credit quality it has triggered. 