Moody's lowers DTE

Moody's Investors Service said it downgraded the rating of DTE Energy Center, LLC to Baa3 from Baa2.

The agency said that this rating action concludes the rating review initiated on May 18.

The outlook is stable.

The one notch downgrade reflects the significant increase in the business risk profile and deterioration in the standalone credit profile of Utility Assets LLC, resulting from its transfer to a subsidiary of Chrysler Holding LLC in a transaction that occurred in August, the agency noted.

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