NEW YORK (Standard&Poor's CreditWire) May 21, 2001--Standard&Poor's today announced that it will assign its triple-'B' rating to DTE Energy Co.'s expected $1.35 billion senior unsecured notes offering. The proceeds will fund nearly all of the cash consideration of the company's merger with MCN Energy Group Inc., expected to be completed by the end of May 2001. Standard&Poor's recently took various rating actions on DTE Energy and MCN Energy Group (see press release dated May 18, 2001), as well as their respective affiliates, in anticipation of the imminent SEC approval for the completion of their merger. Standard&Poor's views the DTE Energy/MCN Energy merger to be a strategic combination consistent with DTE Energy's multiple
