S&P: Constellation Energy on watch

Standard & Poor's said it placed Constellation Energy Group Inc. and subsidiary Baltimore Gas & Electric Co.'s BBB corporate credit ratings on CreditWatch with developing implications.

The watch reflects the increased urgency for the company to execute on its recently announced asset divestment plan and to complete other credit supportive strategic initiatives to shore up its balance sheet in the face of a broad loss of market confidence, according to the agency.

Options include an outright sale of Constellation, which management said is at an advanced stage.

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