Japan-Based TEPCO Holdings 'BB' Corporate Credit Rating Affirmed, Outlook Stable; 'BB+' Senior Debt Ratings Affirmed

TEPCO group continues to demonstrate solid earnings performance thanks to low crude oil prices and continued benefits from a virtually vertically integrated business model and pricing formula under a supportive regulatory framework. We are affirming our 'BB' long-term corporate credit rating and our 'B' short-term ratings on the company. We are also affirming our 'BB+' senior secured debt ratings on TEPCO Holdings. The stable outlook reflects our opinion of limited downside risk in the company's earnings performance. It also reflects our view that the company's profitability is not likely to improve and stabilize significantly without a resumption of operations at its Kashiwazaki-Kariwa nuclear power plant. TOKYO (S&P Global Ratings) Dec. 25, 2017--S&P Global Ratings today said it has affirmed its

...+ TEPCO group continues to demonstrate solid earnings performance thanks to low crude oil prices and continued benefits from a virtually vertically integrated business model and pricing formula under a supportive regulatory framework. + We are affirming our '##' long-term corporate credit rating and our 'B' short-term ratings on the company. We are also affirming our '##+' senior secured debt ratings on TEPCO Holdings. + The stable outlook reflects our opinion of limited downside risk in the company's earnings performance. It also reflects our view that the company's profitability is not likely to improve and stabilize significantly without a resumption of operations at its Kashiwazaki-Kariwa nuclear power plant. TOKYO (S&P Global Ratings) Dec. 25, 2017--S&P Global Ratings today said it has affirmed its '##' long-term corporate credit and 'B' short-term corporate credit and debt ratings on Japan-based regulated electric utility company Tokyo Electric Power Company Holdings Inc. We have...

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