NEW YORK (Standard&Poor's) March 19, 2003--Standard&Poor's Ratings Service today assigned its 'A' senior secured debt rating to integrated energy company Duke Energy Corp.'s $200 million first and refunding mortgage bonds due 2010. Duke Energy plans to use the debt proceeds primarily to reduce outstanding commercial paper. The outlook is negative. Charlotte, N.C.-based Duke Energy Corp. had $22.5 billion in consolidated debt outstanding as of Dec. 31, 2002. "The ratings for Duke Energy reflect a consolidated credit assessment of its regulated U.S. electric utility operation, Duke Power Co., as well as nonregulated operations of its wholly owned subsidiary, Duke Capital Corp.," noted Standard&Poor's credit analyst Dimitri Nikas. "Duke Capital owns and operates gas pipelines in
