Japan-Based TEPCO Power Grid Inc.'s Bond Offerings Are Somewhat Positive For TEPCO Holdings' Credit Quality

TOKYO (S&P Global Ratings) March 3, 2017--S&P Global Ratings views Japan-based general power transmission and distribution company TEPCO Power Grid Inc.'s (not rated) bond issuances today as somewhat positive for Tokyo Electric Power Company Holdings Inc.'s (TEPCO Holdings; BB-/Positive/B) credit quality because the offerings demonstrate the TEPCO group has partially regained access to public debt markets. The fully owned subsidiary of TEPCO Holdings today publicly offered three- and five-year bonds (not rated) totaling ¥90.0 billion. The bond issuances represent the TEPCO group's first financing via public offerings since the March 2011 disaster at its Fukushima No. 1 nuclear power plant. We have kept a positive outlook on our long-term corporate credit rating on TEPCO Holdings since April 1, 2016, reflecting

...TOKYO (S&P Global Ratings) March 3, 2017--S&P Global Ratings views Japan-based general power transmission and distribution company TEPCO Power Grid Inc.'s (not rated) bond issuances today as somewhat positive for Tokyo Electric Power Company Holdings Inc.'s (TEPCO Holdings; ##-/Positive/B) credit quality because the offerings demonstrate the TEPCO group has partially regained access to public debt markets. The fully owned subsidiary of TEPCO Holdings today publicly offered three- and five-year bonds (not rated) totaling Ñ90.0 billion. The bond issuances represent the TEPCO group's first financing via public offerings since the March 2011 disaster at its Fukushima No. 1 nuclear power plant. We have kept a positive outlook on our long-term corporate credit rating on TEPCO Holdings since April 1, 2016, reflecting potential for the company to further reduce downside risk to its credit quality with more stable profitability and financing. In the six years since the Fukushima No. 1 nuclear power...

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