Duke Energy Corp.'s Series A Cummulative Redeemable Perpetual Preferred Stock Rated 'BBB'

NEW YORK (S&P Global Ratings) March 25, 2019--S&P Global Ratings today assigned its 'BBB' issue-level rating to Charlotte, N.C.-based Duke Energy Corp.'s (Duke Energy's) series A cumulative redeemable preference shares. The company will use the proceeds from these preferred shares for general corporate purposes. We expect to assign intermediate equity credit (50% equity) to the preferred shares based on the proposed terms. Our intermediate equity treatment is largely premised on the instrument's permanence, subordination, and deferability features, as defined under our criteria for hybrid securities. The series A preferred stock is perpetual, with no maturity date and no incentive to redeem the issue for a long-dated period, and meets our standards for permanence. In addition, the dividend payments are deferrable,

...NEW YORK (S&P Global Ratings) March 25, 2019--S&P Global Ratings today assigned its '###' issue-level rating to Charlotte, N.C.-based Duke Energy Corp.'s (Duke Energy's) series A cumulative redeemable preference shares. The company will use the proceeds from these preferred shares for general corporate purposes. We expect to assign intermediate equity credit (50% equity) to the preferred shares based on the proposed terms. Our intermediate equity treatment is largely premised on the instrument's permanence, subordination, and deferability features, as defined under our criteria for hybrid securities. The series A preferred stock is perpetual, with no maturity date and no incentive to redeem the issue for a long-dated period, and meets our standards for permanence. In addition, the dividend payments are deferrable, fulfilling the deferability element in our criteria. Furthermore, the instrument is subordinated to all existing and future senior debt obligations, satisfying our condition for...

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