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Fitch: Duke Energy unchanged
Fitch Ratings said the announcement by Duke Energy Corp. that it plans to dispose of all generation assets and derivative contracts of its merchant generation business, Duke Energy North America, will have no immediate impact on the ratings or stable outlook of Duke Energy Corp. and its wholly owned subsidiary Duke Capital LLC.
Although the proposed disposal continues the significant improvement in credit quality achieved over the past two years, the ultimate impact will not be determined until execution of a transaction and the resolution of the ultimate corporate structure following the pending merger with Cinergy, the agency said.
Fitch noted management intends to dispose of 6,200 megawatt of power generation assets located in the western and northeastern United States and the trading book in separate transactions, which are expected to be completed within the next 12 months.
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