Moody’s reviews DTE Energy

Moody's Investors Service said it placed the ratings of DTE Energy Co. (A3) under review for downgrade following DTE's announcement that it will purchase midstream pipeline and gathering assets in the southwest Marcellus/Utica shale regions for about $1.3 billion.

The ratings of DTE's utility subsidiaries, DTE Electric Co. (DTE Electric, A2) and DTE Gas Co. (DTE Gas, Aa3 senior secured) are not under review and their outlooks are stable.

Moody’s said the review for downgrade was prompted by DTE's plans to increase its exposure to gas midstream assets, which, by their nature, have more volatile earnings and cash flow streams than DTE's primary electric and gas utility, pipeline, and gas storage assets.

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