Moody’s changes Kansai Electric view to negative

Moody’s Investors Service said it revised the outlook for Kansai Electric Power Co., Inc. to negative from stable and affirmed the company’s ratings.

"The negative rating outlook reflects our concerns over Kansai Electric's oversight, control and governance matters, which increases risk to the ongoing operation of its nuclear reactors," said Yukiko Asanuma, a Moody's analyst, in a press release.

The bribery scandal could lead to higher negative public sentiment on nuclear plants in Japan, impeding Kansai Electric's nuclear business and competitive position in the deregulated retail market, owing to the low-cost nuclear power, the agency said.

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