Outlook On Tepco Holdings Revised Up To Stable On Profit Recovery; 'BB+' Ratings Affirmed

We see a stronger likelihood that Tepco Holdings' group performance and cash flow generation will remain commensurate with our ratings in the next one to two years after a substantial recovery in both, thanks to the effect of electricity rate hikes in 2023. The ongoing benefits of regulated operations and likely extraordinary support from the government in times of need will continue to underpin the group's creditworthiness. We therefore affirmed our 'BB+' long-term issuer credit rating on the company. We also revised our outlook to stable from negative on Tepco Holdings. TOKYO (S&P Global Ratings) Feb. 27, 2024--S&P Global Ratings today said it has revised up to stable from negative its outlook on the long-term issuer credit rating on Tokyo

...February 27, 2024 - We see a stronger likelihood that Tepco Holdings' group performance and cash flow generation will remain commensurate with our ratings in the next one to two years after a substantial recovery in both, thanks to the effect of electricity rate hikes in 2023. - The ongoing benefits of regulated operations and likely extraordinary support from the government in times of need will continue to underpin the group's creditworthiness. - We therefore affirmed our '##+' long-term issuer credit rating on the company. - We also revised our outlook to stable from negative on Tepco Holdings. TOKYO (S&P Global Ratings) Feb. 27, 2024--S&P Global Ratings today said it has revised up to stable from negative its outlook on the long-term issuer credit rating on Tokyo Electric Power Co. Holdings Inc. (Tepco Holdings). We also affirmed our '##+' long-term issuer credit and senior secured ratings on the company. We revised the outlook because we see a stronger likelihood of the group's performance...

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