NEW YORK (Standard&Poor's) Nov. 18, 2005--Standard&Poor's Ratings Services said today that Duke Energy Corp.'s (BBB/Stable/A-2) agreement to transfer substantially its entire portfolio of derivative contracts to Barclays Capital is positive for Duke Energy's credit quality, but does not affect the rating on the company. As part of the agreement, Duke Energy will pay Barclays Capital about $700 million, reflecting primarily the negative market value of the portfolio, which will be largely offset by the return of collateral to Duke Energy as Barclays Capital becomes the counterparty for the contracts. The transaction benefits Duke Energy's risk profile because it eliminates the company's exposure to credit, legal, market, and collateral risk associated with these contracts. In combination with
