NRG Energy and GenOn Energy have completed their merger, creating the largest independent power producer in the U.S. GenOn is now a subsidiary of NRG of some strategic importance, but GenOn's debt remains nonrecourse to NRG. We affirmed our corporate credit rating on NRG at 'BB-', based on consolidated financial measures. At the same time, we raised our corporate credit ratings on GenOn and its subsidiaries to 'B' from 'B-', reflecting the nonrecourse position of GenOn and evident optionality of its ownership by NRG. We are removing all NRG and GenOn ratings from CreditWatch. The outlook is stable. NEW YORK (Standard&Poor's) Dec. 19, 2012--Standard&Poor's Ratings Services said today it affirmed its 'BB-' corporate credit rating on
