On March 28, 2003, Standard&Poor's Ratings Services assigned its 'BBB' rating to diversified energy holding company DTE Energy Co.'s $400 million offering of senior unsecured notes. The outlook is stable. Detroit, Mich.-based DTE Energy has about $8.5 billion in debt. The ratings for DTE Energy Co. are a function of its regulated utility subsidiaries, Detroit Edison Co. and Michigan Consolidated Gas Co. (MichCon), and a growing portfolio of higher-risk nonregulated activities. In the future, DTE Energy will derive the majority, but a decreasing percentage, of its credit quality from its regulated utility units, Detroit Edison and MichCon, which currently contribute about 70% of DTE Energy's consolidated funds from operations (FFO). That figure is expected to trend down toward
