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S&P upgrades CMS Energy
Standard & Poor's said it raised its corporate credit rating on CMS Energy Corp. and its regulated subsidiary Consumers Energy to BBB from BBB-. The outlook is stable.
At the same time, S&P raised its rating on CMS' unsecured debt to BBB- from BB+ and its short-term rating to A-2 from A-3. S&P also raised its rating on Consumers Energy's senior secured debt to A- from BBB+.
The upgrade reflects the company's gradual, sustained and improved business risk profile that S&P said it expects will be maintained over the next three years.
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