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Moody's rates Duke Energy facility Baa2
Moody's Investors Service said it assigned a short-term rating of Prime-2 to Duke Energy Corp. and a Baa2 senior unsecured rating for its $2.65 billion bank credit facility due 2012. Duke Energy's existing Baa2 long-term issuer rating is unchanged.
The outlook is positive.
Proceeds will be used for general corporate purposes.
Duke Energy's Prime-2 rating recognizes the stability and predictability of cash flow, Moody's said.
The positive outlook reflects the rate-regulated operations as part of its consolidated enterprise, the utility's constructive regulatory and legislative environments and strong financial metrics the past few years, the agency said.
Ratings could be upgraded if Duke Energy maintains cash flow-to-adjusted total debt credit metrics of more than 20% and cash flow-to-interest coverage ratios of more than 4 times, the agency said.
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