S&P Global Ratings is affirming its ratings on U.S. utility holding company Duke Energy Corp. and its subsidiaries. The affirmation reflects our assessment of Duke Energy's business risk profile as excellent and its financial risk profile as significant. The negative outlook reflects the potential for lower ratings because we project that Duke Energy's financial profile will weaken after its pending merger with Piedmont Natural Gas Co., while at the same time the company could face difficulty managing coal ash remediation costs in North Carolina. On May 27, 2016, S&P Global Ratings affirmed its ratings on Duke Energy Corp. (A-/Negative/A-2) and all of its subsidiaries including Duke Energy Carolinas LLC, Duke Energy Indiana Inc., Progress Energy Inc., Duke Energy Florida LLC,
