Moody's: Commonwealth Edison unaffected

Moody's Investors Service said it views the passage of rate freeze legislation by the Illinois Senate under Senate Bill (SB) 1592 to be neutral to the overall credit quality of Commonwealth Edison Co.

The company's ratings, including the Ba1 senior unsecured debt rating, Baa2 senior secured debt rating and Baa2 secured bank facility rating, remain on review for possible downgrade.

The agency said that while the exclusion of Commonwealth Edison from the current version of SB 1592 could be viewed as a positive for the utility's credit quality, the transition to market generation rates for customers of the company and the other Illinois utilities continues to be met with political and consumer opposition, which contributes to uncertainties about the utility's future financial performance.

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