The 'BBB' corporate credit generation subsidiary, Exelon Generation co. LLC. reflects parent Exelon Corp's consolidated business risk profile, which reflects the higher risk operations of unregulated supply affiliate ExGen, and the "excellent" business risk profiles of two regulated delivery businesses, Commonwealth Edison (ComEd) and PECO Energy. ExGen, which accounts for about 70% of consolidated cash flow, is characterized by long-term exposure to market risk, and material exposure to nuclear assets. These risks are partially offset by the solid performance of ExGen's low-cost nuclear fleet and the relative stability of PECO and ComEd's cash flows. Parent Exelon's financial measures are strong for its current ratings. Yet, higher ratings are unlikely in the short term. We viewed Exelon's attempted hostile takeover of
