Moody's might upgrade Duke

Moody's Investors Service said it placed Duke Energy Corp.'s Baa2 senior debt rating, Baa2 issuer rating and Baa3 junior subordinated rating on review for possible upgrade.

The following ratings were also placed on review for possible upgrade: Duke Energy Carolinas, LLC's A1 senior secured debt rating, A3 senior unsecured debt rating and A3 issuer rating; Duke Energy Progress, Inc.'s A1 senior secured debt rating and A3 issuer rating; and Duke Energy Indiana, Inc.'s A2 senior secured debt rating, Baa1 senior unsecured debt rating and Baa1 issuer rating.

The agency said the review was prompted by the resolution of several key uncertainties that had faced the company over the past year and the commensurate reduction in its risk profile.

According to Moody's, these positive developments include commercial operation of the Edwardsport Integrated Gasification Combined Cycle plant in Indiana, rate settlements at both of its North Carolina utilities, a regulatory agreement in North Carolina on outstanding issues associated with the management changes made following its merger with Progress Energy and the clarification of succession plans with the appointment of the company's chief financial officer to be its chief executive officer.

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