Fitch gives DTE Energy notes BBB

Fitch Ratings said it assigned a rating of BBB to DTE Energy Co.'s $300 million issuance of 3.85% 2013 series F 10-year senior unsecured notes due Dec. 1, 2023.

The senior unsecured notes will rank pari passu with existing unsecured debt.

Proceeds will be used to repay short-term borrowings and for general corporate purposes.

The outlook is stable.

Fitch said the rating reflects the following factors: Constructive regulatory environment; over 90% of consolidated earnings are derived from regulated activities; large but manageable capex program including environmental upgrades at coal plants; sufficient liquidity; and improving service area economy.

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