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Exelon, PSEG have highest business risk among 34 utilities in Moody's report
Utility Dive: Utility holding company credit ratings are generally steady, but Moody's analysis indicates the firm sees merchant generation as a serious risk to some companies.
"We view businesses materially engaged in energy marketing and trading and merchant generation as having the highest risk profile," Moody's wrote. "Holdcos may also own and operate assets along the electricity and gas value chains that may have varying risk profiles."
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