S&P ups DTE Energy

Standard & Poor's said it raised the corporate credit rating on DTE Energy Co. and its subsidiaries to BBB+ from BBB, along with its senior secured debt to A from A-.

The agency also said it upgraded Michigan Consolidated Gas Co.'s senior secured debt to A from BBB+ to better reflect its recovery prospects, and revised the recovery rating on its secured debt to 1+ from 1, indicating an expectation of 100% recovery in a default.

The outlook is stable.

The upgrade reflects a view of decreasing regulatory risk, improved financial measures that are expected to be maintained over the intermediate term and Michigan's gradual economic recovery from the recession, S&P said.

The company has been able to improve its financial measures through rate hikes and management of costs, the agency said.

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