Standard&Poor's Ratings Services' 'BBB' corporate credit rating on Chicago-based unregulated supply company, Exelon Generation Co. LLC (ExGen) reflects the consolidated business risk profile of parent Exelon Corp., which we view as strong. (We categorize business profiles from excellent to vulnerable. See "Business Risk/Financial Risk Matrix Expanded," published May 27, 2009, on RatingsDirect on the Global Credit Portal.) Exelon's business risk profile reflects the higher-risk operations of ExGen and the excellent business risk profiles of its two regulated delivery businesses, Commonwealth Edison Co. (ComEd) and PECO Energy Co. ExGen, which accounted for about 60% of the consolidated enterprise by cash flow and capital spending in 2010, has long-term exposure to market risk and meaningful exposure to nuclear assets (17,000
