...TOKYO (S&P Global Ratings) Dec. 10, 2018--Japan-based regulated electric utility Tokyo Electric Power Company Holdings Inc. (TEPCO Holdings) is likely to maintain its solid business centered in the Tokyo metropolitan area even after the TEPCO Holdings group transfers its existing thermal power generation business to JERA Co. Inc. in April 2019 as planned, in S&P Global Ratings' view. Therefore, we believe the planned business transfer is unlikely to immediately increase downward pressure on our ratings on TEPCO Holdings (##/Positive/B). Japan-based electric power company JERA Co. Inc. is a 50-50 joint venture between TEPCO Fuel & Power Inc., which will spin off its thermal power generation business, and Chubu Electric Power Co. Inc. The thermal power generation business is one of the TEPCO Holdings group's main operations. It currently generates about 20% of the group's EBITDA and accounts for about 16% of the group's total assets. In our opinion, even after the group transfers this business...
