NEW YORK (Standard&Poor's CreditWire) April 27, 1999--Standard&Poor's today assigned its preliminary AA-/A+/A ratings to Duke Energy Corp.'s $1.3 billion Rule 415 shelf registration of first and refunding mortgage bonds, senior unsecured debt securities, and subordinated unsecured debt securities. All or some of the debt securities may be issued as global securities. The outlook is stable. Duke Energy's ratings reflect the strong operations of its regulated electric utility and interstate gas pipeline units. Generally, these businesses enjoy good growth and provide strong and stable cash flows to the company. Duke Energy's ratings also incorporate the company's business strategy, which targets Duke to become a global energy service provider, mainly to large customers, in a competitive, unbundled energy
