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BULLETIN: Ratings on Japan's Nine EPCOs Unaffected by Sale of J-POWER Shares Dec 03
Standard & Poors, Dec 2003
Abstract
TOKYO (Standard & Poor's) Dec. 22, 2003--Standard & Poor's Ratings Services said today that its ratings on the nine Japanese electric power companies (EPCOs) would not be affected by the possible sale of their stakes in wholesale electricity supplier Electric Power Development Co. (J-POWER). All the EPCOs are currently rated 'AA-' with a negative rating outlook. The wholesale contracts between J-POWER and the EPCOs would not be terminated as a result of such sales. Moreover, while the dissolution of the shareholding relationship with the EPCOs would provide J-POWER with greater autonomy, allowing it to focus on improving its pricing power, this would have only a limited impact on the EPCOs' profitability. The nine EPCOs, which currently own one-third of J-POWER,...
Companies mentioned in this report are: 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.
Action: S&P Event
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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