S&P: Duke Energy sale positive

Standard & Poor's said that Duke Energy Corp.'s (BBB/positive) agreement to sell its subsidiary Cinergy Corp.'s (BBB/positive/A-2) commercial marketing and trading business to Fortis NV (A+/stable/A-1) is a positive event for credit quality.

S&P said it revised the outlook on Duke Energy in May, when the company announced its plans to exit these remaining marketing and trading operations.

The agency said that the announcement is in line with its expectations and upon completion the sale should contribute to a further moderation in business risk and materially reduce future collateral requirements.

© 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.