Fitch changes PSEG Power view to stable

Fitch Ratings said it affirmed the ratings of Public Service Enterprise Group, Inc., including the long-term issuer default rating at BBB+, and those of its subsidiaries Public Service Electric & Gas Co. (A-) and PSEG Power LLC (BBB+).

The outlook is stable for Public Service Enterprise and Public Service Electric. Power's outlook was revised to stable from negative.

The revision of Power's outlook to stable reflects an expectation that pressure on its credit metrics will alleviate starting in second-half 2018, following the in-service of new capacity currently under-construction, Fitch said.

Assuming a steady group-wide financing strategy, Fitch said it anticipates that Power's leverage will not materially and/or sustainably exceed levels commensurate with its BBB+ rating.

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