The corporate credit rating on Exelon Generation Co. LLC. (ExGen) reflects the consolidated credit profile of the Exelon family of companies. Exelon Corp. is the parent company of ExGen, Commonwealth Edison Co. (ComEd), and PECO Energy Co. All ratings on Exelon-related affiliates have been on CreditWatch with negative implications since rate freeze legislation targeting ComEd and other Illinois utilities began to gather momentum in the Illinois legislature in October 2006. As of March 2007, ExGen had $1.79 billion in total balance sheet debt. Standard&Poor's Ratings Services estimates ExGen's total adjusted debt at roughly $5.5 billion. Adjustments include operating leases, tolling arrangements, and unfunded pension and other post-retirement pension obligations. Chicago, Ill.-based Exelon engages in unregulated energy generation, wholesale
