Fitch affirms CMS, Consumers

Fitch Ratings said it affirmed the ratings for CMS Energy Co. and Consumers Energy Co. as follows:

• CMS with long-term issuer default rating at BB+; senior secured Bank facility at BBB-; senior unsecured debt at BB+; and preferred stock and trust preferred securities at BB-; and

• Consumers' long-term issuer default rating at BBB-; first-mortgage bonds at BBB+; senior unsecured debt at BBB; and preferred stock at BB+.

The outlook is stable.

According to Fitch, the ratings of CMS are primarily supported by dividends from its regulated electric and gas utility, Consumers, which comprised about 95% of consolidated cash flows of $1.2 billion in 2009.

Consumers benefits from solid credit protection measures and a constructive regulatory environment in Michigan, the agency added.

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