TEPCO Holdings Upgraded To 'BB+'; 'B' Short-Term Issuer And Issue Ratings, 'BB+' Debt Rating Affirmed; Outlook Stable

We believe TEPCO group has materially improved its funding stability given its accumulated record of public bond offerings in the past two years. We also see good progress toward the scheduled transfer of its thermal power generation business to affiliate JERA in April 2019. We are raising our long-term issuer credit ratings on TEPCO Holdings. At the same time, we are affirming our short-term issuer credit rating on the company and our issue rating on senior secured bonds. The stable outlook reflects our view that the company is likely to maintain solid profit in the next year or two even without restarts of nuclear power reactors. TOKYO (S&P Global Ratings) Jan. 25, 2019--S&P Global Ratings today said it has raised

...+ We believe TEPCO group has materially improved its funding stability given its accumulated record of public bond offerings in the past two years. + We also see good progress toward the scheduled transfer of its thermal power generation business to affiliate JERA in April 2019. + We are raising our long-term issuer credit ratings on TEPCO Holdings. At the same time, we are affirming our short-term issuer credit rating on the company and our issue rating on senior secured bonds. + The stable outlook reflects our view that the company is likely to maintain solid profit in the next year or two even without restarts of nuclear power reactors. TOKYO (S&P Global Ratings) Jan. 25, 2019--S&P Global Ratings today said it has raised to '##+' from '##' its long-term issuer credit rating on Japan-based regulated electric utility company Tokyo Electric Power Company Holdings Inc. (TEPCO Holdings). At the same time, we affirmed our 'B' short-term issuer credit and commercial paper (CP) program ratings...

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