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Prospect News home > News index > List of issuers D > Headlines for DTE Energy Co. > News item |
Fitch gives DTE Energy debt BBB-
Fitch Ratings said it assigned a rating of BBB- to DTE Energy Co.’s (issuer default rating BBB+) $280 million issuance of junior subordinated debentures, 2016 series F, due Dec. 15, 2076.
The junior subordinated debentures rank junior to other unsecured debt of DTE.
Proceeds will be used to redeem a like amount of higher couponed junior subordinated debentures due 2061.
The outlook is negative.
In Fitch's analysis, this instrument qualifies for 50% equity treatment due to the coupon deferral option, as specified in the criteria report titled “Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit Analysis” dated Feb. 29, 2016.
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