Fitch views Energy Transfer positively

Fitch Ratings said it changed Energy Transfer LP's outlook to positive from stable and affirmed its long-term issuer default rating and senior unsecured debt at BBB-. In addition, Fitch affirmed ET's preferred equity rating and subordinated debt rating at BB.

“The positive outlook reflects trends that have been evident since the end of 2020, mainly balanced financial policy, including capital deployment for growth. The Lake Charles liquefied natural gas (LNG) export development is significant to the outlook. ET's board declared its quarterly distribution at 30.5 cents per unit, and the partnership has publicly articulated comprehensive and balanced financial policies. The Lake Charles project, if approved, would reflect a significant cost (on an 8/8ths basis),” Fitch said in a press release.

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