NEW YORK (Standard&Poor's) July 14, 2003--Standard&Poor's Ratings Services believes DTE Energy Co.'s (BBB+/Stable/A-2) decision to reduce synthetic fuel production volumes by about one-half will not have an immediate effect on credit ratings. The company is also planning on selling interests in its synthetic fuel facilities to raise cash to improve its financial profile, with potential sales now delayed. A recent IRS announcement that it will suspend issuing new Private Letter Rulings for plants producing synthetic fuels is the cause of the concern. An outcome that halts potential sales or ultimately affects cash flow could further weaken the company's financial profile, which is weak for current ratings. In 2002, DTE Energy used about $180 million of tax
