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Moody’s cuts TEPCO credit rating after today’s news about Reactors No. 2 and 3, saying damage at plant “appears worse than previously indicated”

Published: May 16th, 2011 at 10:28 am ET
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Tepco Says Fuel in 2 Reactors May Have Melted, Bloomberg by Michio Nakayama and Yuji Okada, May 16, 2011:

Tokyo Electric Power Co. said fuel in other reactors at its damaged nuclear plant may have melted, after confirming rods in the No. 1 unit had fallen from their assembly [...]

Moody’s Japan K.K. cut Tepco’s credit ratings and put it on review for further possible downgrade after today’s news [...]

Moody’s cut senior secured rating by one step to Baa2 from Baa1 and long-term issuer rating to Baa3 from Baa1, saying that damage at the plant appears worse than previously indicated. The agency cut its short-term rating for commercial paper to Not Prime from Prime-2. It was the third downgrade since the disaster.

See also: Tepco says fuel in Reactors No. 2 and 3 may have melted — Announcement about the two reactors “will be made later”

Published: May 16th, 2011 at 10:28 am ET
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  1. Tepco Confirms Meltdown of Reactors No. 2 and 3 — No. 3 in worse condition May 24, 2011
  2. WaPo: “Surprise!” Two more reactors melted down and TEPCO conveniently left that part out of story — “Now people are used to the situation” says professor May 24, 2011
  3. Nuclear Engineer: Confidential US report “paints a very different picture, and suggests that things are a lot worse” — Risk of more damage “in a big way” April 6, 2011
  4. New Asahi doc: NISA team knew of triple meltdowns by March 18 — Kept secret until Tepco’s admission two months later — Says melted fuel only ‘largely’ submerged in water March 4, 2012
  5. Expert who worked at Sandia Labs: “TEPCO data suggest that fission is ongoing… This is bad news” — “Truly scary” that nobody in Japan seems to know basics of reactor accident progression April 21, 2011
May 16th, 2011 | Tags: , , , , | Category: Coverups?
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