Fitch rates new CMS convertibles B-

Fitch Ratings said it has assigned a B- rating to CMS Energy Corp.'s $225 million issuance of cumulative convertible preferred stock.

The outlook for CMS is stable.

Fitch said the ratings for CMS take into consideration the expectation of stable revenues and cash flow from its primary subsidiary, Consumers Energy Co. (senior unsecured rated BB, Rating Outlook stable by Fitch) and adequate liquidity at CMS as a result of the successful refinancing of secured bank agreements, realization of asset sale proceeds and improved access to the capital markets.

The ratings also recognize the relatively high level of parent level debt and weak consolidated credit metrics.

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