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After Fukushima, Stalled Energy Strategy Could Hurt Credit Quality Of Japanese Electric Utility Companies Jul 11
Standard & Poors, July 2011
Abstract
The ongoing Fukushima nuclear disaster following the March 11 earthquake and tsunami in Japan has pushed the country's energy policy to a crossroads. With public sentiment shifting away from nuclear energy, which had been at the forefront of Japan's energy plan for the next decade, and given problems with the alternatives, it is difficult to tell what direction a restructured national energy strategy will take. A sharp rise in fuel costs for thermal power and ongoing political uncertainty further complicate how best to provide this essential service. Nevertheless, Standard & Poor's Ratings Services believes the key issue for Japan (AA-/Negative/A-1+) remains how to balance energy security, environmental protection, and support for the economy. Furthermore, because it has an enormous influence...
Companies mentioned in this report are: Japan (Unsolicited Ratings),Tokyo Electric Power Co. Inc.,Chubu Electric Power Co. Inc.,Chugoku Electric Power Co. Inc.,Shikoku Electric Power Co. Inc.,Hokkaido Electric Power Co. Inc.,Hokuriku Electric Power Co. ,Kansai Electric Power Co. Inc.,Kyushu Electric Power Co. Inc.,Tohoku Electric Power Co. Inc.,Okinawa Electric Power Co. Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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