Item 1.01. Entry into a Material Definitive Agreement.
On April 29, 2009, The Detroit Edison Company ("Detroit Edison") entered into a new two-year unsecured revolving credit agreement by and among Detroit Edison, the lenders party thereto, Barclays Bank PLC ("Barclays"), as Administrative Agent, and Citibank, N.A. ("Citibank"), JPMorgan Chase Bank, N.A. ("JPMorgan") and The Royal Bank of Scotland plc ("RBS"), as Co-Syndication Agents. Detroit Edison's aggregate availability under the new facility is approximately $211 million. Borrowings under the new facility will be available at prevailing short-term interest rates. The new facility will also support Detroit Edison's commercial paper borrowings. The new facility expires in April 2011 and requires the maintenance of a debt to capitalization ratio of no more than .65 to 1. Item 1.02. Termination of a Material Definitive Agreement.
Effective April 29, 2009, Detroit Edison terminated the Second Amended and Restated Five-Year Credit Agreement, dated as of October 17, 2005, by and among Detroit Edison, the lenders party thereto and Barclays, as Administrative Agent. Detroit Edison terminated this credit facility because it has been replaced with the new two-year credit facility, dated as of April 29, 2009, as discussed under Item 1.01 above.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As discussed under Item 1.01 above, on April 29, 2009, Detroit Edison entered into a new two-year credit agreement for borrowings up to approximately $211 million. Detroit Edison does not have any borrowings under the facility at this time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Form of Detroit Edison Two-Year Credit Agreement, dated as of April 29, 2009, by and among Detroit Edison, the lenders party thereto, Barclays, as Administrative Agent, and Citibank, JPMorgan and RBS, as Co-Syndication Agents.

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