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S&P cuts TEPCO rating by 5 notches to junk sta

mdsolar (1045926) writes | more than 3 years ago

Japan 0

mdsolar writes "

Standard & Poor's downgraded its long-term credit rating for Tokyo Electric Power Co. by five notches to junk status Monday, saying it remains uncertain whether the operator of the troubled Fukushima Daiichi nuclear power plant would be smoothly bailed out by the Japanese government.

The downgrading of the utility's long-term debt rating to B-plus from BBB came as the company, known as TEPCO, is struggling to come up with funds to cover compensation payments over the crisis at the nuclear plant in Fukushima Prefecture, which has been crippled since the devastating March 11 earthquake and tsunami.

This is happening as Japan's own credit outlook is cut by Fitch. http://hken.ibtimes.com/articles/154072/20110530/japan-credit-outlook-cut-on-fears-about-fukushima.htm

Which other countries could risk default just by having a nuclear accident?"

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