NY -- Standard&Poor's CreditWire 11/2/98 -- Standard&Poor's today affirmed its ratings on Duke Energy Corp. and its affiliates (see list below) other than Panhandle Eastern Pipe Line Co., which was placed on CreditWatch with negative implications. The outlook for Duke Energy and its affiliates, other than Panhandle Eastern, remains stable. This action reflects Duke's pending sale to CMS Energy Corp. of its regulated Midwest pipelines for $2.2 billion. The sale is expected to close in early 1999. Panhandle Eastern has been only a modest portion of Duke, representing about 8% of Duke Energy's total assets and contributing $80 million to Duke Energy's 1997 earnings of $902 million. The rating on Panhandle Eastern's debt, which is unsecured,
