Moody’s ups Public Service to positive

Moody's Investors Service said it affirmed the provisional Baa2 unsecured rating at Public Service Enterprise Group Inc. (PEG) and revised the outlook to positive from stable.

The ratings of Public Service Electric & Gas Co. (PSE&G, A2 senior unsecured and issuer rating) and PSEG Power LLC (Baa1 senior unsecured) were also affirmed with stable outlooks.

"The revision in PEG's outlook to positive from stable reflects the increasing contribution of the regulated utility subsidiary relative to the unregulated business in terms of consolidated CFO and especially the expected substantial increase in distributions to the parent from the utility," Moody’s vice president and senior credit officer Swami Venkataraman said in a news release.

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