NY -- Standard&Poor's CreditWire 11/24/1998 -- Standard&Poor's today affirmed its ratings on Duke Energy Corp. and its affiliates (see list below). The outlook for Duke Energy and its affiliates remains stable (other than Panhandle Eastern Pipe Line Co., which remains on CreditWatch with negative implications pending its sale to CMS Energy Corp.). This action reflects Duke's pending acquisition from Union Pacific Resources Group Inc. of its gathering, processing, fractionation, and natural gas liquids pipeline business for $1.35 billion. The sale is expected to close in the first quarter of 1999. The affirmations reflect Standard&Poor's view that the acquisition is consistent with Duke's previously-articulated strategic plan to grow its nonregulated businesses and that the cash
