S&P affirms Public Service Enterprise

Standard & Poor's said it affirmed its BBB corporate credit ratings on Public Service Enterprise Group Inc. and its affiliates PSEG Power LLC and utility Public Service Electric & Gas Co.

At the same time, the agency said it affirmed the BB- corporate credit rating on affiliate PSEG Energy Holdings LLC.

The outlook is stable.

According to S&P, the ratings reflect unregulated operations that are volatile, but have provided strong cash flows during the past two years, resulting in an improvement in the group's consolidated financial profile.

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