...Stable Rating Outlook: DTE Gas Co.'s (DTEGas) Stable Rating Outlook reflects Fitch Ratings' expectations of a stable financial profile throughout the forecast period and timely recovery of invested capital. Good liquidity, manageable maturities and credit metrics commensurate with the rating category support the rating. Credit concerns include continued customer attrition and conservation at DTEGas. New Infrastructure Recovery Mechanism Filing: In November, DTEGas filed with the Michigan Public Service Commission (MPSC) to double the pace of its pipe replacement program to 160 miles a year, resulting in an annual investment of $130 million beginning in January 2016, an annual increase of $50 million. Fitch expects a decision by the MPSC by year-end and DTEGas expects new rates effective July 2016. Fitch views the adoption of the infrastructure recovery mechanism (IRM) by the MPSC as part of DTEGas' 2012 general rate case (GRC) settlement as indicative of continued regulatory support. In...
