New York, May 11, 2015 -- Moody's Investors Service today downgraded PPL Energy Supply, LLC's (Supply) corporate family rating (CFR) to Ba2 from Ba1 and probability of default rating (PD) to Ba2-PD from Ba1-PD. The rating actions were taken in anticipation that on June 1, 2015, Supply will be spun off from PPL Corp (Baa2 senior unsecured, stable) and merged with Riverstone Holdings LLC's merchant power operation, RJS Power Holdings, LLC (RJS). Moody's also lowered Supply's speculative grade liquidity (SGL) to SGL-2, from SGL-1 and revised its rating outlook to stable from negative.

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