S&P affirms Duke Energy

Standard & Poor's said it affirmed its corporate credit ratings and issue ratings on Duke Energy Corp. and its subsidiaries Duke Power Co. LLC and Cinergy Corp.

The outlooks are positive.

S&P noted that the ratings on Duke Capital LLC and its subsidiaries are affirmed and the outlooks have been revised to developing from positive.

The rating actions follow Duke Energy's announcement that it would officially pursue the separation of the electric and natural gas assets effective Jan. 1, 2007, through a spin-off of the gas assets to existing shareholders, S&P said.

The agency added that it affirmed the ratings on Duke Energy and its subsidiaries because the separation does not appear to materially disadvantage the credit profile of the electric operations.

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