Moody’s downgrades Duke Energy

Moody’s Investors Service said it downgraded Duke Energy Corp.’s long-term ratings, including its senior unsecured rating to Baa2 from Baa1, and the ratings of its largest subsidiary Duke Energy Carolinas, LLC, including senior unsecured rating to A2 from A1.

“The downgrade of Duke reflects the company's weaker balance sheet strength objectives, which include targeting a ratio of cash flow from operations excluding changes in working capital to debt of 14%, lower than its previous target of 15%,” said Moody’s vice president and senior credit officer Laura Schumacher in a news release.

The outlook is stable.

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