We assigned our 'BBB' rating to PSEG Power LLC's proposed $300 million unsecured notes maturing 2013 and $250 million unsecured notes maturing 2020. The 'BBB' corporate credit rating and issue ratings on PSEG Power are based on the consolidated credit profile of U.S. utility holding company Public Service Enterprise Group Inc. (PSEG). The stable outlook on PSEG, Public Service Electric&Gas Co., and PSEG Power reflects strong operating performance and an improving financial profile. On March 31, 2010, Standard&Poor's Ratings Services assigned its 'BBB' rating to PSEG Power LLC's proposed $300 million unsecured notes maturing 2013 and $250 million unsecured notes maturing 2020. The proceeds will be used repay the $209 million retail medium-term notes that the
