S&P Global Ratings has placed an A- long-term issue credit rating on Tohoku Electric Power's (TYO:9506) U.S. dollar senior unsecured bonds, according to a recent release.

The issuance will anchor greater diversification in the electric power utility's funding sources, given a wider offshore investor base, S&P said.

The bonds' rating is similar to the company's long-term issuer credit rating, due to limited subordinated risk, S&P said.

The rating agency expects the company to allocate more spending on safety efforts for the Onagawa No. 2 nuclear power plant and on bolstering power transmission and distribution facilities.

Funding diversification will aid the company in retaining steady financial management under these instances, the rating agency said.

S&P expects the company's ratio of secured debt to regress further amid more unsecured debt at a time when it repays bonds with statutory preferential rights.