Full requirements contracts with PECO Energy Co. and Commonwealth Edison Co. Very low-cost nuclear generating capacity. Very low debt balance relative to the size of its asset base. Substantial nuclear asset exposure. Minimal, but improving, portfolio diversity. Exelon Generation Co. LLC (EGC) is the wholly owned, unregulated generation subsidiary of Exelon Corp., which also owns two very large, regulated utilities, Commonwealth Edison Co. (ComEd) and PECO Energy Co., as well as other unregulated units. Standard&Poor's considers EGC integral to Exelon's business strategy. Also, because there are no regulatory or other structural barriers in Illinois or Pennsylvania that sufficiently restrict access by the parent to the assets and cash flow of the subsidiaries, Standard&Poor's views the default
