The Japan Bank for International Cooperation may help fund Tokyo Electric Power Co.'s proposed sale of overseas energy assets as the beleaguered company seeks to shore up its finances.

The government-run lender is considering loans to domestic companies interested in acquiring foreign energy projects that Tepco might sell, JBIC Chief Executive Officer Hiroshi Watanabe said.

The bank may also offer emergency loans to Tepco should prices of liquefied natural gas, a vital fuel for thermal power plants, surge, he said.

Tepco is struggling to contain the worst nuclear crisis in 25 years and is under pressure to sell assets worldwide to raise at least ¥600 billion to compensate victims of the accident and scrap reactors.

"We'd consider offering loans if potential buyers are Japanese companies," Watanabe, 61, said June 10 in Tokyo. "Tepco-invested projects overseas seem to be performing well."

The JBIC has notified Japanese utilities, including Tepco, that it is preparing loans for LNG and oil imports in case prices soar in the months ahead, he said.

More oil, gas and coal are being burned at Tepco's thermal power generators to supplement electricity after the utility shut down reactors in the quake-struck region.

"We are considering the sale of assets in the process of restructuring our business," said Atsushi Sugiyama, a Tepco spokesman. "Of course, that includes overseas assets."

East Timor's Bayu-Undan LNG plant run by ConocoPhillips, and Indonesia's Paiton coal-fired electric power plants are among overseas projects that Tepco has invested in, according to Tepco's website.

The utility also has a stake in a dual-purpose desalination and electricity-generating plant in the United Arab Emirates and owns stakes in power plants in the Philippines.

Its overseas assets are valued at about ¥1 trillion, Jiji Press reported April 23.

Tepco on Monday had its credit rating cut four steps to junk status by Moody's Investors Service as costs related to the Fukushima disaster escalate.

Moody's lowered its long-term debt rating to B1 from Baa3 and said the ranking may be reduced further.

The cut follows a May 16 downgrade by the ratings company and matches the ranking by Standard & Poor's Ratings Services, which slashed its assessment of the utility's debt by five levels on May 30.

Prime Minister Naoto Kan's Cabinet agreed June 14 to provide a safety net for the utility while it pays claims for damages that could exceed ¥10 trillion related to the nuclear meltdowns at the Fukushima No. 1 plant.

Tepco has the equivalent of ¥6.8 trillion in debt maturing before the end of 2049, according to Bloomberg data.