Tepco spreads tighten as nationalisation rumours grow

Credit default spreads narrow on Fukushima plant operator and Japanese sovereign while BP widens on manslaughter charge reports

Credit default swap (CDS) spreads on Tokyo Electric Power Company (Tepco), the utility provider at the heart of Japan's nuclear crisis, narrowed on Tuesday, amid speculation the firm is set to be nationalised.

The spread on Tepco declined 18.5 basis points from Monday's close to 367.5 bp at 3.30pm in London on Tuesday, according to data provided by Markit, a financial information service.

The company owns the Fukushima Daiichi plant involved in radiation leak scares following the earthquake and

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