...Delmarva Power and Light Company's ratings reflect the utility's low-risk gas distribution and electric transmission and distribution (T&D) utility business, relatively supportive state regulation and stable credit profile. The ratings also reflect the weak to moderate rating linkage between parent Exelon Corporation (BBB+/Rating Watch Negative [RWN]) and its subsidiaries. Fitch Ratings affirmed Exelon's utility subsidiaries' ratings upon Exelon's announced divestiture of unregulated subsidiary Exelon Generation Company, LLC (ExGen, BBB/RWN). Fitch expects Exelon to continue to fund its utility subsidiaries consistent with authorized capital structures, despite the current expectation that Exelon's planned equity issuance upon divestiture will not fully offset the loss of ExGen's cash flow....
