Moody's lifts DTE Energy bonds to Baa3

Moody's Investors Service said it raised DTE Energy Center, LLC's senior secured bonds due 2024 to Baa3 from Ba1. The agency also changed the outlook to stable from positive.

“The upgrade reflects the improved credit profile of DTEEC's sole customer, a significant subsidiary of Stellantis NV (Baa3 stable), formerly known as Fiat Chrysler Automobiles NV (FCA), after completion of a 50/50 merger between FCA and Peugeot SA. The combined entity has larger scale product, brand and regional diversification, as well as technology competence, all of which are factors driving the Baa3 rating,” Moody’s said in a press release.

The outlook reflects an expectation that the company will continue to demonstrate consistent financial and operating performance and Stellantis to maintain its credit profile over the foreseeable future, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.