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Duke Energy responds to Elliott Management’s latest letter. Read Duke Energy’s response.

Credit Ratings

Duke Energy Corporation


Moody's Report S&P Report
Outlook Stable Stable
Issuer Rating / Corporate
Credit Rating
Baa2 BBB+
Senior Unsecured Baa2 BBB
Junior Subordinated Debt/Preferred Stock Baa3 BBB-
Commercial Paper P-2 A-2

Duke Energy Carolinas


Moody's Report S&P Report
Outlook Stable Stable
Senior Secured Aa3 A
Senior Unsecured A2 BBB+

Progress Energy, Inc.


Moody's Report S&P Report
Outlook Stable Stable
Senior Unsecured Baa1 BBB

Duke Energy Progress


Moody's Report S&P Report
Outlook Stable Stable
Senior Secured Aa3 A

Duke Energy Florida


Moody's Report S&P Report
Outlook Stable Stable
Senior Secured A1 A
Senior Unsecured A3 BBB+

Duke Energy Ohio


Moody's Report S&P Report
Outlook Stable Stable
Senior Secured A2 A
Senior Unsecured Baa1 BBB+

Duke Energy Indiana


Moody's Report S&P Report
Outlook Stable Stable
Senior Secured Aa3 A
Senior Unsecured A2 BBB+

Duke Energy Kentucky


Moody's Report S&P Report
Outlook Stable Stable
Senior Unsecured Baa1 BBB+

Piedmont Natural Gas


Moody's Report S&P Report
Outlook Stable Stable
Senior Unsecured A3 BBB+

What is a credit rating?

An independent opinion from a credit rating agency about the likelihood a debt issuer will meet its financial obligations (i.e., creditworthiness).

Credit Quality

Moody's

S&P

Highest Aaa AAA
High Aa AA
Upper Medium A A
Moderate Baa BBB
Note: S&P uses the credit rating modifiers + and - to indicate relative standing within a particular rating category. Moody's uses the numbers 1, 2 and 3 to indicate relative standing, with the numbers 1 and 3 corresponding to the + and - of S&P. Visit S&P's Understanding Credit Ratings or Moody's Ratings Symbols and Definitions for more information.
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