S&P upgrades CMS Energy

Standard & Poor's said it raised its issuer credit ratings on CMS Energy Corp. and its subsidiary Consumers Energy Co. to BBB+ from BBB.

The outlooks are stable.

The agency also raised the ratings on CMS Energy's senior unsecured bonds to BBB from BBB- and Consumers' first mortgage bonds to A from A-.

Both issuers’ short-term ratings remain A-2.

CMS Energy Michigan LP’s and Consumers Power Co. Financing I’s BBB issuer credit ratings were withdrawn because the companies no longer exist.

S&P said it could raise the ratings if the company's business risk profile remains robust and financial measures strengthened and consistently exceeded the base case forecast, including adjusted FFO to total debt consistently at the high end of the significant financial risk profile category. Improved financial measures could occur through deleveraging or greater equity funding of capital investments, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.