Over the past nine months, Duke Energy Corp. has effectively addressed many of the challenges that arose after the close of its merger with Progress Energy. We are revising the rating outlook to stable from negative on Duke Energy Corp. and its subsidiaries. We are also affirming the 'BBB+' corporate credit and issue ratings on the companies. The outlook revision to stable from negative reflects the reduced downside risk to credit quality over the intermediate term as a result of management's efforts since the close of merger with Progress Energy in July 2012. On May 13, 2013, Standard&Poor's Ratings Services revised the rating outlook on Duke Energy Corp. and its subsidiaries to stable from negative and affirmed its
