Fitch rates Exelon notes BBB+

Fitch Ratings said it has assigned a BBB+ rating to Exelon Generation Co., LLC's $1.5 billion of senior notes.

The senior note offering included $900 million of 6.25% notes due 2039 and $600 million of 5.2% notes due in 2019, the agency said, adding that proceeds from the offering will be used to fund cash tender offers for the company's $700 million of 6.95% senior notes due 2011 and through a distribution to its parent Exelon Corp., $500 million of 6.75% senior notes due 2011 and for general corporate purposes.

The outlook is stable.

According to Fitch, the rating reflects the strong competitive position of Exgen's largely nuclear-fueled electric generating portfolio, an exceptionally strong balance sheet and substantial liquidity that provides protection against capital market dislocations.

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