Cost increases in Duke Energy Corp.'s plant construction program and robust competition in Ohio have worsened business risk and limited upward rating momentum. Successful risk management of those developments and steady financial performance will be necessary to maintain ratings stability. We have revised the outlook on Charlotte, N.C.-based energy company and subsidiaries to stable from positive and affirmed its 'A-' corporate credit ratings. We have maintained the business risk profile at 'excellent' and the financial risk profile at 'significant'. On July 23, 2010, Standard&Poor's Ratings Services revised the outlook on Duke to stable from positive. At the same time, we affirmed our ratings, including the 'A-' corporate credit rating, on Duke, sub-holding company Cinergy Corp., and utility subsidiaries
