...April 29, 2021 NEW YORK (S&P Global Ratings) April 29, 2021--S&P Global Ratings said today the announcement by Exelon Corp. and subsidiary Exelon Generation Co. LLC (ExGen) that they are increasing the full-year estimated pre-tax loss from the February 2021 weather event to $900 million-$1.1 billion from $750 million-$950 million does not affecting our ratings or outlook. We had incorporated the potential for a somewhat higher loss in our February rating review. The estimated loss is $150 million higher and includes updated load meter data and Electric Reliability Council of Texas default payments that differed from Exelon's Feb. 24 estimate. Management has expressed its willingness to maintain investment-grade credit metrics at ExGen on a successful spin, which may include deferring spending and dividends to achieve ratio targets. We expect the company to factor in the impact of the winter storm that swept Texas in February to capitalize ExGen such that it can achieve adjusted funds from...
