Standard & Poors downgrades Japans TEPCO

TOKYO (AP) Standard & Poor's lowered the long-term rating on Tokyo Electric Power Co. (TEPCO), the operator of a nuclear power plant at the center of the world's worst nuclear crisis for 25 years at 'BBB + 'from' A +. "

The agency also lowered the short-term rating at 'A-2' from 'A-1 ", with the other two sides" on CreditWatch with negative implications, "he said, suggesting they could be lowered yet.

The decision by Standard & Poor's, said in a statement issued Saturday in Tokyo time, following a similar decision by ratings agency Moody's.

The deadly earthquake and tsunami of 11 March has damaged several facilities TEPCO, and the company is now facing huge costs to contain the unrest Fukushima Daiichi nuclear power plant, which continues to leak radiation.

"As a result of the unprecedented events of 11 March and the importance of TEPCO of Japan's economy, we believe that the Japanese government may provide some form of extraordinary support of the company," S & P said.

"However, on a standalone basis, we believe that the credit profile of TEPCO as non-investment grade, with a high risk rating and stable transition to short-term negative," he said.