On Aug. 28, 2003, Standard&Poor's Ratings Services affirmed its 'BBB' corporate credit rating on Newark, N.J.-based utilities holding company Public Service Enterprise Group Inc. (Enterprise). Standard&Poor's also affirmed its 'BBB' corporate credit rating ratings on Enterprise's subsidiaries, Public Service Electric&Gas Co. (PSE&G) and PSEG Power LLC. Furthermore, Standard&Poor's lowered its corporate credit rating on Enterprise subsidiary PSEG Energy Holdings LLC (Energy Holdings) to 'BB-' from 'BBB'. Consolidated long- and short-term debt of the Enterprise family of companies, net of the utility's securitization debt, totals approximately $10.5 billion. Enterprise's stand-alone debt includes about $480 million of long- and short-term debt and about $1.2 billion of preferred securities. The ratings are supported by the
