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Fitch rates Duke Energy Carolinas bonds A+
Fitch Ratings said it assigned an A+ rating to Duke Energy Carolinas, LLC's $650 million of 4% first and refunding mortgage bonds due Sept. 30, 2042.
The outlook is Stable.
Proceeds will be used to repay at maturity Duke's $400 million 5.625% senior notes due Nov. 30, 2012 and $20 million 1999 series pollution bonds due Oct. 1, 2012, and the remainder will be used for general corporate purposes.
The ratings reflect the issuer's solid credit profile, manageable capital requirements, regulatory risk, planned rate filings and guaranteed fuel savings, Fitch said.
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