CDS spreads widen on Tokyo Electric Power Company

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Risk perceptions of the Tokyo Electric Power Company (Tepco), which owns and operates the stricken Fukushima nuclear plant, widened significantly today, as workers battled to control rising radiation levels. The plant was heavily damaged by the March 11 earthquake, and the ensuing tsunami knocked out the back-up generators used to cool the site's reactors. Tepco has come under severe criticism for its handling of the crisis, and credit default swap (CDS) spreads on the company widened from 355 b

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