【政治経済】平成床屋談義 町の噂その412
ttp://www.reuters.com/article/2011/05/30/us-tepco-credit-idUSTRE74T1U020110530
S&P cuts Tepco rating to junk TOKYO | Mon May 30, 2011 7:23am EDT
S&Pは東京電力の社債格付けをジャンク級に引き下げ ロイター
(Reuters) - Ratings agency Standard and Poor's cut its credit rating on Tokyo Electric Power (9501.T) to junk status on
Monday, saying the utility's bank lenders were more likely to be forced to write off debt as part of a restructuring
scheme to compensate victims of an ongoing nuclear crisis.
S&P said it had lowered the long-term credit rating of Tokyo Electric, one of the most active bond issuers in Japan, to
B+ from BBB, while cutting the rating on the utility's secured bonds to BB+ from BBB.
S&Pは東京電力の担保付社債の格付けをBBBからBB+に、普通社債をBBBからB+に格下げした。原発事故保障関連の東電救済スキーム
について、銀行が債権の償却を強いられる可能性が高いことを理由としている。
The ratings agency said it viewed a default on the utility's 5 trillion yen ($62 billion) in corporate bonds as less likely
than a restructuring of its bank debt.
S&Pは東電の5兆円の社債のデフォールトは、東電の銀行借入のリストラよりも可能性が少ないと見ている
Japan's government earlier this month agreed to set up a fund with taxpayers' money to help Tokyo Electric, known as Tepco,
avoid insolvency and compensate victims of the radiation crisis at its Fukushima Daiichi nuclear plant, where reactor
cooling systems were knocked out by the March 11 earthquake and tsunami.
日本政府は先に、東電に公的資金を含む救済計画を発表したが、
But Chief Cabinet Secretary Yukio Edano has said the government scheme, which still needs parliamentary approval, would be
unlikely to gain public support unless Tepco's banks agreed to waive some of the debt they are owed by the utility, a step
they have resisted.
その際に枝野官房長官は検討中の救済スキームにおいて東電への銀行ローンの償却がなければ一般大衆の支持が得られないと述べた。
S&P said a restructuring of Tepco's bank debt would be a "selective default," and it now regarded the probability of
"extraordinary" Japanese government support for Tepco as "high" rather than "very high," the phrase it had previously used.
S&Pは東電の銀行ローンのリストラは「部分的選択的なデフォールト」であると見て、東電への日本政府の特別救済計画の可能性を
以前の「特に高い」から「高い」とする表現に変更した
S&P cuts Tepco rating to junk TOKYO | Mon May 30, 2011 7:23am EDT
S&Pは東京電力の社債格付けをジャンク級に引き下げ ロイター
(Reuters) - Ratings agency Standard and Poor's cut its credit rating on Tokyo Electric Power (9501.T) to junk status on
Monday, saying the utility's bank lenders were more likely to be forced to write off debt as part of a restructuring
scheme to compensate victims of an ongoing nuclear crisis.
S&P said it had lowered the long-term credit rating of Tokyo Electric, one of the most active bond issuers in Japan, to
B+ from BBB, while cutting the rating on the utility's secured bonds to BB+ from BBB.
S&Pは東京電力の担保付社債の格付けをBBBからBB+に、普通社債をBBBからB+に格下げした。原発事故保障関連の東電救済スキーム
について、銀行が債権の償却を強いられる可能性が高いことを理由としている。
The ratings agency said it viewed a default on the utility's 5 trillion yen ($62 billion) in corporate bonds as less likely
than a restructuring of its bank debt.
S&Pは東電の5兆円の社債のデフォールトは、東電の銀行借入のリストラよりも可能性が少ないと見ている
Japan's government earlier this month agreed to set up a fund with taxpayers' money to help Tokyo Electric, known as Tepco,
avoid insolvency and compensate victims of the radiation crisis at its Fukushima Daiichi nuclear plant, where reactor
cooling systems were knocked out by the March 11 earthquake and tsunami.
日本政府は先に、東電に公的資金を含む救済計画を発表したが、
But Chief Cabinet Secretary Yukio Edano has said the government scheme, which still needs parliamentary approval, would be
unlikely to gain public support unless Tepco's banks agreed to waive some of the debt they are owed by the utility, a step
they have resisted.
その際に枝野官房長官は検討中の救済スキームにおいて東電への銀行ローンの償却がなければ一般大衆の支持が得られないと述べた。
S&P said a restructuring of Tepco's bank debt would be a "selective default," and it now regarded the probability of
"extraordinary" Japanese government support for Tepco as "high" rather than "very high," the phrase it had previously used.
S&Pは東電の銀行ローンのリストラは「部分的選択的なデフォールト」であると見て、東電への日本政府の特別救済計画の可能性を
以前の「特に高い」から「高い」とする表現に変更した
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"Standard & Poor's now believes that some politicians think banks should share the burden in some form, which may fall into
our definition of default," S&P said in a statement. "We now think such a scenario is more likely than previously thought."
「S&Pの見解では、日本の一部政治家が、銀行は東電の負担の一部を引き受けるべきと考えているが、これはデフォールトに相当する」
Tepco is Japan's largest corporate bond issuer and its shares are widely held by financial institutions.
Moody's Investors Service said on May 19 it may review the credit ratings of Tepco if Japan fails to pass laws to help the
utility handle compensation payments related to its disabled nuclear plant.
Such a move would also see Moody's view on debt of Tepco, one of the most active bond issuers in Japan, shifting to junk
status.
ムーディーズは東電の社債や株式が金融機関に広く保有されている事を踏まえ、東電救済スキームの合意がうまくゆかないなら
格付けを見直すとしている。その場合、ムーディーズも東電の社債をジャンク級に格下げする可能性が高い。
(Reporting by Chisa Fujioka; Editing by Michael Watson)
our definition of default," S&P said in a statement. "We now think such a scenario is more likely than previously thought."
「S&Pの見解では、日本の一部政治家が、銀行は東電の負担の一部を引き受けるべきと考えているが、これはデフォールトに相当する」
Tepco is Japan's largest corporate bond issuer and its shares are widely held by financial institutions.
Moody's Investors Service said on May 19 it may review the credit ratings of Tepco if Japan fails to pass laws to help the
utility handle compensation payments related to its disabled nuclear plant.
Such a move would also see Moody's view on debt of Tepco, one of the most active bond issuers in Japan, shifting to junk
status.
ムーディーズは東電の社債や株式が金融機関に広く保有されている事を踏まえ、東電救済スキームの合意がうまくゆかないなら
格付けを見直すとしている。その場合、ムーディーズも東電の社債をジャンク級に格下げする可能性が高い。
(Reporting by Chisa Fujioka; Editing by Michael Watson)