S&P: DTE Energy on negative watch

Standard & Poor's said it placed its BBB rating on DTE Energy Center LLC's $244 million 7.46% senior secured bonds on CreditWatch with negative implications.

The placement follows the announcement that Cerberus Capital Management LP, a private equity investment firm, will acquire an 80.1% ownership interest in Chrysler.

Although the rating on DaimlerChrysler was placed on CreditWatch with positive implications, the agency said it is putting its rating on DTE Energy Center on CreditWatch with negative implications because the credit quality of the entity that will guarantee the project's obligations is unclear.

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