S&P affirms PSEG

Standard & Poor's said it affirmed its BBB corporate credit rating on Public Service Enterprise Group Inc. and subsidiaries PSE&G and PSEG Power LLC.

The outlook is stable.

The agency said Enterprise's rating reflects unregulated operations that are volatile but currently generating strong cash flow, resulting in an improvement in the group's consolidated financial profile and liquidity. Enterprise's business risk profile is strong and is driven by supply subsidiary PSEG Power's exposure to merchant power offset by PSE&G's excellent regulated utility operations, S&P added.

The stable outlook reflects strong operating performance, an improving financial profile and the agency's expectation of continued strong cash flow generation by PSEG Power over the medium term.

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