S&P ups Atlantic City Electric

Standard & Poor's said it raised the senior secured debt rating on Atlantic City Electric Co. to A- from BBB+ based on a 1+ recovery rating, which indicates the highest expectation of full recovery.

At the same time, S&P said it raised the senior unsecured debt rating on regulated utility Delmarva Power & Light Co. to BBB from BBB- after taking into account the limited priority debt outstanding at the utility.

The agency noted that the two are subsidiaries of diversified energy company Pepco Holdings Inc.

S&P said it affirmed the BBB long-term and A-2 short-term corporate credit ratings on all the companies as well as Potomac Electric Power Co.

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