S&P: DTE Energy unaffected

Standard & Poor's said that DTE Energy Co.'s (BBB/stable/A-2) announcement regarding a potential $700 million share repurchase is not conducive to the firm's credit quality but does not affect its ratings on the company at this time.

According to the company, the actual amount of repurchases through 2008 will depend on the firm generating sufficient cash flow to pay down debt and make new investments.

S&P said it will closely monitor the level of debt reduction as well as how future investments affect credit quality in the context of DTE's current ratings.

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