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 existing 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 91% of consolidated operating income. The company's utility operations in Latin America have about 4,000 megawatts (MW) of generation capacity. In addition, the company 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.
