Moody's confirms DTE; outlook negative

Moody's Investors Service said it has confirmed the Ba3 rating on DTE Energy Center LLC's senior secured bonds and revised the outlook to negative.

This concludes the review for possible downgrade that was initiated on Dec. 15 and maintained when the bonds were downgraded to Ba1 on Feb. 27 and again to Ba3 on June 1, the agency added.

The negative outlook considers that DTE Energy Center's sole customer, Utility Assets LLC, remains in bankruptcy together with Daimler North America Corp.'s continuing refusal to make the termination payment demanded of it by DTE Energy Center pursuant to Daimler North America's guarantee of Utility Assets' obligations under its Utility Service Agreements with DTE Energy Center, the agency said.

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