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BULLETIN: DTE Energy to Sell Electric Transmission Subsidiary Dec 02
Standard & Poors, Dec 2002
Abstract
Standard & Poor's Ratings Services perceives no immediate effect on DTE Energy Co.'s (BBB+/Stable/A-2) credit quality regarding the company's announcement that it has signed a definitive agreement to sell its electricity transmission business subsidiary, International Transmission Co., to affiliates of Kohlberg Kravis Roberts & Co. and Trimaran Capital Partners L.L.C. for about $610 million in cash. Standard & Poor's believes ratings will not be affected because although the sale of the company's most stable asset increases the company's consolidated risk profile, a portion of the proceeds will be used to reduce debt, which will improve the company's financial profile....
Companies mentioned in this report are: DTE Energy Co.
Action: S&P Event
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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