Moody's keeps Exelon, NRG on review

Moody's Investors Service said it is continuing its review on Exelon Corp.'s Baa1 senior unsecured rating, as well as subsidiaries Exelon Generation Co., LLC's A3 senior unsecured rating and PECO Energy Co.'s A3 issuer rating and of NRG Energy, Inc.'s Ba3 corporate family rating.

The agency said the action comes after Exelon increased the exchange ratio of its tender offer for the common stock of NRG.

The review factors in the benefits of a larger, more diverse generation company, the ability to achieve potential synergies, the credit implications on the consolidated profile from subsequent asset sales, the possibility of common equity or convertible securities being raised and the financing costs, according to the agency.

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