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Summary: Carolina Power & Light Co. d/b/a Progress Energy Carolinas Inc. Jun 11 Product Image

Summary: Carolina Power & Light Co. d/b/a Progress Energy Carolinas Inc. Jun 11

  • ID: 1820087
  • June 2011
  • Standard & Poors

FEATURED COMPANIES

  • Duke Energy Corp.
  • Duke Energy Florida Inc.
  • Duke Energy Progress Inc.
  • Progress Energy Inc.
  • MORE

Abstract
The ratings on Carolina Power & Light Co. d/b/a Progress Energy Carolinas Inc. (PEC) are on CreditWatch with positive implications, where Standard & Poor's Rating Services placed them on Jan. 10, 2011, following the announcement that the parent company, Progress Energy Inc., had entered into an agreement to merge with Duke Energy Corp. Duke Energy will be the surviving entity. Completion of the merger is possible by the end of 2011, following approvals from the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission (NRC), the Department of Justice, and North and South Carolina regulators. The CreditWatch Positive listing on Progress and its subsidiaries reflects that the company's credit quality will benefit from the merger with the higher-rated Duke Energy. Standard...

Companies mentioned in this report are:
- Duke Energy Progress Inc.
- Duke Energy Corp.
- Duke Energy Florida Inc.
- Progress Energy Inc.

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. READ MORE >

- Duke Energy Progress Inc.
- Duke Energy Corp.
- Duke Energy Florida Inc.
- Progress Energy Inc.

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