Fitch affirms Duke Energy

Fitch Ratings said it affirmed the ratings and stable outlook of Duke Energy Corp. and its subsidiaries (senior unsecured BBB+) following the announcement of a merger with Cinergy Corp. (senior unsecured BBB+).

Fitch said the rating affirmation reflects the similar credit quality of the two entities, the absence of additional debt to achieve the stock-for-stock transaction, and the strategic benefits that accrue to Duke Energy and Duke Capital Corp. from combining their gas-fired merchant generating fleet with the largely coal-fired merchant generating assets of Cinergy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.