...October 13, 2022 - In S&P Global Ratings' view, the passage of the Inflation Reduction Act (IRA) legislation is a material credit positive for Constellation Energy Generation LLC. We think the nuclear production tax credits (PTCs) provisions in the Act provide long-term visibility into cash flows for Constellation's nuclear generators and benefit for potential future hydrogen production. - As a result, we raised our issuer credit rating (ICR) on Constellation to '###' from '###-', reflecting our view of a material improvement in the company's business risk profile. - The outlook remains positive, reflecting our view that Constellation's business risk will continue to improve over time and leverage will remain low. Although leverage could be temporarily elevated due to M&A activity, we expect the company to have robust cash flows with minimal volatility due to the nuclear credits and a price floor provided by the recently announced PTCs. We expect Constellation will maintain adjusted funds...
