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BULLETIN: DTE Energy's Curbing Of Synfuel Production Does Not Affect Ratings May 06
Standard & Poors, May 2006
Abstract
NEW YORK (Standard & Poor's) May 16, 2006--Standard & Poor's Ratings Services stated today that DTE Energy Co.'s (BBB/Stable/A-2) decision to curtail synthetic fuel (synfuel) production is adverse to credit quality but does not affect the ratings at this time. The company's decision is in response to the current high-priced oil environment, which could disallow the use of associated tax credits and income from production. If synfuel production remains curtailed for the year, the company would forego about $135 million in cash flow because it has hedged 70% of the expected $450 million contribution for 2006. Also, DTE has hedged only about 25% of expected synfuel cash flow for 2007....
Companies mentioned in this report are: DTE Energy Co.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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