Tokyo, October 08, 2014 -- Moody's Japan K.K. believes that a comprehensive alliance between Tokyo Electric Power Company, Incorporated (TEPCO, Corporate Family Rating: Ba3, negative) and Chubu Electric Power Company, Incorporated (Chubu, Issuer Rating: A3, stable) -- should it proceed as outlined -- would be credit positive for both because of the potential for greater cost competitiveness at the two companies.

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