Standard&Poor's Ratings Services noted today that Duke Energy Corp. (A/Neg/A-1) has recently received positive news on two fronts. On Dec. 26, 2002, a U.S. District Court dismissed shareholder lawsuits that claimed Duke Energy illegally used wash trades to bolster revenues. Also in late December, an arbitration panel ruled in Duke Energy's favor regarding its dispute with Exxon Mobil Corp. (AAA/Stable/A-1+) concerning Duke Energy Trading and Marketing, L.L.C. (DETM; BBB+/ Neg/--). DETM is 40% owned by Exxon Mobil and Duke Energy was granted the right to buy out Exxon Mobil in the event of material business disputes. The panel also upheld Duke Energy's definition of the type of trading activity to be conducted by the joint entity. These developments
