The ratings on Duke Energy Corp. reflect the consolidated credit profiles of its operating subsidiaries, Duke Energy Carolinas LLC, Duke Energy Ohio Inc., Duke Energy Indiana Inc., Duke Energy Kentucky Inc., as well as the company's operations in Latin America and planned wind generation investments. Duke Energy's 'excellent' business risk profile is characterized by stable regulated utility operations in the Carolinas, Ohio, Kentucky, and Indiana, which contribute about 85% of consolidated operating income. The company's utility operations in Latin American have about 4,000MW of generation capacity and Duke is expanding its portfolio of wind generation investments through acquisitions and development, which are viewed as having higher business risk compared with the regulated utility operations. Also supporting the business risk profile
