S&P affirms Duke Energy

Standard & Poor's said it affirmed its BBB corporate credit ratings on Duke Energy and all its subsidiaries, including Duke Power Co. LLC, Duke Capital LLC and Cinergy Corp

The outlook remains positive.

At the same time, S&P said it revised its outlook on Duke Capital to positive from developing, while affirming its BBB- corporate credit rating on Duke Energy Trading & Marketing LLC. The outlook is stable.

The rating action on Duke Energy and Duke Capital reflects the assessment of Duke Energy's proposed separation of the natural gas transmission, distribution and processing operations into a separate entity through a tax-free spin-off effective Jan. 1, 2007, which could result in higher ratings of up to two notches from current levels for the newly created gas company, the agency added.

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