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Fitch Rates CMS Energy Corp.'s New Senior Notes 'BB+'.

Publication: Energy Weekly News
Publication Date: 03-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings has assigned a 'BB+' rating to CMS Energy Corp.'s (CMS) $300 million 8.75% senior notes issuance, due June 15, 2019 and $150 million 5.50% convertible senior notes due June 15, 2029. Proceeds from the sales will be used to retire existing debt and for general corporate purposes. The Rating Outlook for CMS is Stable.

The ratings for CMS take into account the stable cash flows of its regulated electric and gas utility, Consumers Energy Co. (Consumers; Issuer Default Rating (IDR) 'BBB-', Stable Outlook, by Fitch). Consumers benefits from solid credit protection measures, stable operating performance and a constructive legislative and regulatory environment in...

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