The operator of the Fukushima Nuclear plant, TEPCO, says it’s trying to determine whether the facility was actually damaged by the earthquake on March 11th, rather than the resulting tsunami.
TEPCO also says fuel rods in the facility’s number one reactor have completely melted down.
Moody’s Investors Service has announced that it has cut Tokyo Electric Power’s credit rating by 2 notches. It cited uncertainty over the burden of compensating the people affected by its stricken Fukushima Daiichi nuclear power plant.
The ratings agency says damage at the plant was worse than previously thought. It also says a government framework to help with the compensation does not clearly show support for the utility. The firm is expected to pay a huge amount for a long time.
Moody’s says Tokyo Electric’s long-term rating has been downgraded to “Baa3” from “Baa1”. It says it will be reviewed for further possible downgrades.
A reduction of one notch would downgrade TEPCO to junk status. More NHK