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.
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