NEW YORK (Standard&Poor's) Oct. 31, 2003--Standard&Poor's Ratings Services said today that Duke Energy Corp.'s (BBB+/Negative/A-2) weak third-quarter earnings report places additional pressure on the company's credit profile and may adversely affect the ratings on the company in the intermediate term. While Standard&Poor's recognizes that the weaker earnings were in part driven by noncash charges related to write-offs of goodwill, Standard&Poor's also recognizes that continued weakness at Duke Energy North America undermines the consolidated financial profile upon which the current ratings are based. Standard&Poor's will review Duke Energy's year-end results as part of its ongoing review of the company.
