S&P gives BB- to Tepco Holdings

Standard & Poor's said it assigned its BB- long-term and B short-term corporate credit ratings to Tokyo Electric Power Co. Holdings Inc. (Tepco Holdings).

The agency also assigned the BB+ long-term issue ratings to general mortgage bonds that Tepco Holdings has assumed from Tokyo Electric Power Co. Inc. (Tepco) and assigned a B short-term issue rating to its domestic commercial paper program.

The outlook on the long-term corporate credit ratings on Tepco Holdings is positive.

At the same time, S&P revised the outlook on its long-term corporate credit ratings on Tepco to positive from stable, affirmed the BB- long- and B short-term corporate credit ratings on Tepco, affirmed the BB+ long-term senior secured debt ratings and B short-term debt rating on the company, and then withdrew the corporate credit ratings on Tepco.

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