S&P: Duke Energy unchanged

Standard & Poor's said the settlement agreement reached by Duke Energy Indiana Inc. and intervenors in the proceedings regarding the cost recovery for the Edwardsport coal gasification power plant, while unfavorable, does not immediately affect its ratings on Duke Energy Indiana or parent Duke Energy Corp.

According to S&P, Duke Energy Indiana has agreed to collect in rates about $2.6 billion of the plant's expected $3.3 billion cost.

The agency said it believes overall credit quality could weaken, however, in the absence of actions to repair the effect of the impairment or could deteriorate should parent Duke Energy pursue additional large capital spending projects without enhanced risk management and oversight of the associated risks.

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