Moody’s trims Electric Power Development

Moody’s Investors Service said it downgraded to A2 from A1 the issuer and senior unsecured bond ratings of Electric Power Development Co., Ltd. (J-Power).

“The downgrade reflects J-Power’s high leverage in context of a single-A rated unregulated power company and relative to its peers globally, and our expectation that its debt level will not decline materially given its capital commitments,” said Yukiko Asanuma, a Moody’s analyst, in a press release.

Moody’s also changed the outlook to stable from negative.

“Nevertheless, J-Power’s stable outlook is supported by its very stable cash flow that allows the company to maintain its financial profile,” added Asanuma.

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