Duke Energy Corp. has completed the sale of its domestic merchant electric generating assets. The balanced use of sale proceeds preserves credit measures. The merchant asset sale and a strategic review of its international business that signifies no more than modest growth in those riskier operations improve Duke's business risk profile. We are raising our issuer credit ratings on Duke and its subsidiaries to 'A-' from 'BBB+'. The outlook is stable. We are also raising our senior unsecured debt and preferred stock ratings and affirming our secured debt ratings and short-term ratings on the companies. The stable outlook is predicated on our view that Duke is committed to perpetuating the new, lower business risk profile by concentrating mainly on utility
