Sept. 25--Moody's Investors Service on Wednesday upgraded the ratings of Duke Energy and three subsidiaries "following the resolution of several key issues and uncertainties" since its mid-2012 merger with Progress Energy.
Since the merger, Duke has resolved state investigations into that deal, cost issues of a new Indiana power plant and the closure of a Florida nuclear plant. It has settled Carolinas rate cases and named a new CEO, Lynn Good.
Moody's upgraded Duke Energy one notch, to Baa1 senior unsecured. It also boosted three utilities one notch each: Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana.
The rating outlook of Duke and all its utilities is stable, Moody's said. Duke's stock closed Wednesday at $67.26, down 43 cents.