On April 18, 2008, Standard&Poor's affirmed its 'BBB' corporate credit rating on energy supply company, PSEG Power LLC (Power). Power's corporate credit rating is based on the on the consolidated credit profile of parent Public Service Enterprise Group Inc. (Enterprise; BBB/Stable/A-2), a diversified energy company based in Newark, N.J. The outlook is stable. Enterprise's rating reflects unregulated operations that are volatile, but currently generating strong cash flow, resulting in an improvement in the group's consolidated financial profile and liquidity. Enterprise's business risk profile is strong and is driven by Power's exposure to merchant power offset by excellent regulated utility operations of Public Service Electricity&Gas Co. (PSE&G). Strengths include Power's well-positioned base-load generation assets that currently benefit
