DTE Energy to purchase natural gas midstream assets
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DTE Energy (DTE) Ratings Placed on Review for Downgrade by Moody's
September 27, 2016 11:43 AM EDTMoody's Investors Service (Moody's) today placed the ratings of DTE Energy Company (NYSE: DTE)(DTE, A3) under review for downgrade. The action follows 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 Company (DTE Electric, A2) and DTE Gas Company (DTE Gas, Aa3 senior secured) are not under review and their outlooks are stable.
RATINGS RATIONALE
The review for downgrade is prompted by DTE's plans to increase its exposure to gas midstream... More
