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Moody’s assigns Aa2 to Kyushu Electric Power’s Japan bonds

Tokyo, June 04, 2009 -- Moody's Investors Service has assigned an Aa2 
rating to Kyushu Electric Power Co., Inc.'s (Kyushu Electric) Series 408, 
Yen 20 billion bonds, due 2019. The rating outlook is stable.

The rating reflects Kyushu Electric's solid franchise in its operating
area in the Kyushu Island, effectively limited competitive factors in 
the industry, and the importance of its public utility service backed by 
a favorable regulatory framework and the Japanese government's energy 

Moody's last rating action with respect to Kyushu Electric was taken on
March 8, 2007, upgraded to Aa2 from A1.

The principal methodology used in rating this issuer was "Global Regulated 
Electric Utilities", which can be found at www.moodys.com in the Credit 
Policy & Methodologies directory, in the Ratings Methodologies 
subdirectory. Other methodologies and factors that may have been 
considered in the process of rating this issue can also be found in the 
Credit Policy & Methodologies directory.

Kyushu Electric Power Co., Inc. headquartered in Fukuoka, Japan, is one 
of the ten major electric utilities in Japan.

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