(The following statement was released by the rating agency)
Oct 11 - -- Standard & Poor's affirmed its 'A' long-term corporate credit rating on J-Power .
-- J-Power has no existing exposure to nuclear power generation. The government in October permitted a restart of construction on its new Ohma nuclear power plant. We continue to forecast that its key financial ratios will remain flat over the next one to two years.
-- The negative outlook reflects our expectation that the electric utility sector will remain under pressure owing to a delay in the restarting of some of the nation's idle nuclear reactors. It also reflects our expectation that downward pressure will continue owing to a still uncertain review process for the sector's existing favorable regulatory framework. Moreover, we think that J-Power's weak financial ratios for the current ratings will continue to constrain the ratings.
Standard & Poor's Ratings Services today affirmed its 'A' long-term corporate credit and debt ratings on Electric Power Development Co. Ltd. (J-Power). The outlook on the long-term corporate credit rating remains negative. The stand-alone credit profile for J-Power remains 'a'. Our ratings on J-Power reflect our opinion that there is a ''moderate'' likelihood of the government providing the company with timely and sufficient extraordinary support were it to experience financial distress.