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S&P lifts Duke Energy view to stable
S&P said it affirmed Duke Energy Corp.’s A- issuer credit rating, along with the ratings on its subsidiaries Duke Energy Carolinas LLC, Duke Energy Progress LLC, Duke Energy Florida LLC, Duke Energy Ohio Inc., Duke Energy Kentucky Inc., Duke Energy Indiana Inc. and Piedmont Natural Gas Co. Inc.
The agency also said it revised the company’s outlook to stable from negative.
Duke Energy has completed the sale of its Latin American merchant generation assets, S&P explained.
The asset sale significantly reduces Duke Energy's merchant generation exposure and strengthens the company's business risk profile, which is now dominated by its regulated utility operations for electricity and natural gas in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, the agency said.
While Duke Energy is pursuing some modest un-regulated, contracted wind and solar growth, such investments are minimal and represent less than 5% of the company's overall credit profile, S&P said.
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