Riyadh - Mubasher: Moody's Investors Service on Tuesday confirmed Saudi Orix Leasing Company's Ba1 Corporate Family Ratings (CFR) and Ba2 long-term issuer ratings.
The confirmed ratings of Saudi Orix were underpinned by Moody's view that support from Saudi Investment Bank (SAIB), the company's 38% shareholder, remains solid, and its current rating levels already incorporate Moody's expectations of a weakening operating environment, Moody’s said in a statement on its official website.
The ratings agency noted that it has concluded the review for downgrade that was initiated on 08 March 2016. These ratings carry a stable outlook, whereas the short-term issuer ratings are unaffected, it added.
