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Research Update: DTE Energy Co. Jun 02
Standard & Poors, June 2002
On June 18, 2002, Standard & Poor's assigned its 'BBB' rating to energy holding company DTE Energy Co.'s (BBB+/Stable/A-2) $150 million offering of senior unsecured notes. Each unit will consist of a stock purchase contract and a senior note, both issued by DTE Energy. The notes are unsecured and rank equally with all of DTE Energy's other unsecured senior obligations. The notes mature in 2007, or two years following the mandatory equity purchase. Proceeds from the issuance will be used for general corporate purposes, including the repayment of short-term debt. Detroit, Mich.-based DTE Energy is a diversified energy holding company and has about $8.5 billion in debt. The ratings for DTE Energy are a function of its regulated utility subsidiaries...
Companies mentioned in this report are: DTE Energy Co.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
DTE Energy Co.