TOKYO (AFP)-l' rating Standard and Poor Monday agency downgraded TEPCO, the operator of Central Fukushima sinistrée of the nuclear Japan, in the light of worsening of the business credit profile.
S & P said in a news release that it lowered the long-term corporate credit rating Tokyo Electric Power Co. has to B + from BBB and its credit rating corporate short term b from A - 2.
He said that the move, with a fall of five-notch in the notation in the long term, has been done "reflecting our view that there is a growing likelihood that the lender banks could undertake a form any restructuring of the borrowings of the TEPCO, on TEPCO worsening stand-alone credit profile".
The statement also noted "uncertainty on the provision of Government support to ensure the payment of the debt in a timely manner under the current political climate in the Japan extraordinary."
A poll in the Nikkei business daily Monday showed that nearly three quarters of Japanese voters are unhappy with the handling of the Government of center-left of the nuclear disaster.
The survey came days before Prime Minister Naoto Kan is facing a motion of no confidence threatened by the conservative opposition, which is unlikely to pass, but he nevertheless presents with fresh political headache.
Earlier this month following the troubled utility revealed the largest ever loss for a Japanese company outside the financial sector after being hit by huge costs of the worst nuclear crisis since Chernobyl.
The firm posted a net annual loss of 1.25 billion yen ($15 billion) and its President that Masataka Shimizu would resign over the crisis in the nuclear power plant of his reversed, said.
The assessor said risk that it had lowered its assessment of the likelihood that TEPCO will receive government extraordinary support to "high" of "very high".
"Standard and Poor still sees a high probability that the Government will legislate and implement the plan it announced May 13, 2011, to help offset TEPCO finance for damages related to the nuclear crisis," said the statement.
On 13 may, the Government has proposed for the first time that banks may have to waive certain terms of pre-quake ready to TEPCO before it gets assistance to pay allowances.
"However, in our view, remains the announcement is not clear if the framework for the scheme is subject to the cooperation of lender banks, and, if this is the case, which formed the Bank cooperation will take," said the statement.
She added "some politicians think that banks should share the workload in some form, which may fall within our definition of the default value". "We believe now that such a scenario is more likely that we previously thought.".
The electricity company faces the prospect of payment compensation worth tens of billions of dollars to the victims of the Atomic crisis.
TEPCO and the Government have not yet release estimates for bill payment, but analysts say it could vary from four billion yen (50 billion dollars) to 10 billion yen according to how long the hard nuclear crisis.
The utility said it had decided scrap plant reactors after the earthquake on 11 March and abandoned plans to build two more.
Fukushima, sitting on the northeast coast to Pacific, plant has been paralysed by the earthquake and tsunami and spread radiation in air, soil and sea in the worst nuclear crisis of the world since Chernobyl 25 years ago.
It is the fourth time this standard and poor has downgraded long-term ratings of the TEPCO since March 18.
Rival agency ratings Moody has also downgraded the operator three times and warned that its rating remains on review for possible more action.
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