Correct: Fitch Rates Commonwealth Edison Co Project 2008D 'A+/F1+' & 2008F 'AA-/F1+'

Business Wire,  May 1, 2008  

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NEW YORK -- (This is an revised version of a press that was issued earlier today and amends ratings on both series 2008D and 2008-F, as well as the banks providing the direct-pay LOCs in the second paragraph.)

Fitch Ratings has assigned the following ratings to the Illinois Finance Authority pollution control revenue refunding bonds listed below (Commonwealth Edison Company Project):

--$50,000,000 series 2008D 'A+/F1+';

--$91,000,000 series 2008F bonds 'AA-/F1+'.

The ratings are based on the support provided by two separate irrevocable direct-pay letters of credit (LOCs) issued by: (1) SunTrust Bank for the series 2008D bonds. The long-term 'A+' rating assigned by Fitch to SunTrust Bank is on Rating Watch Negative as of March 7, 2008; and

(2) JPMorgan Chase Bank, National Association for the series 2008F bonds, each securing a respective series of bonds.

The banks are obligated to make regularly scheduled payments of principal of and interest on the bonds when due, as well as purchase price for tendered bonds. The ratings will expire upon the earliest of: (a) May 9, 2009, the initial scheduled expiration date of the LOCs, unless such date is extended; (b) upon any prior termination of the LOCs; and (c) defeasance of the bonds. The LOCs provide full coverage of principal plus an amount equal to 53 days' interest at a maximum rate of 12% based on a year of 365 days and purchase price for tendered bonds, while the bonds bear interest in the weekly or daily rate modes. The Underwriter and Remarketing Agent for the bonds are SunTrust Robinson Humphrey and Cabrera Capital Markets, LLC for the series 2008D bonds and JPMorgan and Cabrera Capital Markets, LLC for the series 2008F bonds. The bonds are expected to be delivered on or about May 9, 2008.

The bonds initially bear interest at a weekly interest rate, but may be converted to a daily, commercial paper, indexed mode, term or fixed interest rate mode. While bonds bear interest in the daily or weekly rate mode, interest payments are the first business day of each month, commencing June 2, 2008. During the daily and weekly mode, holders may tender their bonds on any business day, provided the trustee and remarketing agent are given requisite prior notice of the purchase. The bonds are subject to mandatory tender: (1) during the commercial paper or term rate modes, on the Purchase Dates, which will be the day after the end of each period; (2) upon conversion of the interest rate; (3) on the substitution date; (4) on the second business day prior to the expiration date of the LOCs; and (5) no more than five business days following receipt by the trustee of a notice from the (Administrative Agent or banks) stating that an event of default under the Reimbursement Agreement has occurred and is continuing or that the banks will not reinstate the interest component of the LOCs after an interest drawing, and in either case directing a mandatory tender of the bonds. Optional and mandatory redemption provisions also apply to the bonds in accordance with the terms of the documents.

Bond proceeds will be used to refund certain outstanding bonds of the Borrower, Commonwealth Edison Company, an Illinois corporation.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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