Moody's ups Baltimore Gas

Moody's Investors Service said it upgraded the long-term ratings for Baltimore Gas & Electric Co., including its senior unsecured rating to Baa1 from Baa2.

The outlook is stable.

Moody's said the upgrade was triggered by the acquisition of Baltimore Gas by Exelon Corp.

"The rating upgrade reflects the transfer of ownership of BGE to a larger, more diverse and higher-rated entity," Moody's vice president Scott Solomon said in a news release.

"Moreover, EXC has an established track record as a operator of transmission and distribution utilities in different states and its sizable existing platform should provide BGE with cost-saving opportunities," Solomon added in the release.

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