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BULLETIN: DTE Energy's Potential Share Repurchase Does Not Immediately Affect Rating Jan 05
Standard & Poors, Jan 2005
Abstract
NEW YORK (Standard & Poor's) Jan. 31, 2005--Standard & Poor's Ratings Services said today that DTE Energy Co.'s (BBB/Stable/A-2) announcement regarding a potential $700 million share repurchase is not conducive to the firm's credit quality but does not affect its ratings on the company at this time. According to the company, the actual amount of repurchases through 2008 will depend on the firm generating sufficient cash flow to pay down debt and make new investments. Standard & Poor's will closely monitor the level of debt reduction as well as how future investments affect credit quality in the context of DTE's current ratings....
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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