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S&P affirms Rockies Express
Standard & Poor's said it affirmed its BBB corporate credit rating on Rockies Express Pipeline LLC.
At the same time, the agency said it assigned its BBB rating to Rockies Express' proposed issuance of $1.3 billion of senior unsecured notes, to be issued in three tranches due 2013, 2018 and 2038, which the company's sponsors do not guarantee.
The company will use the proceeds from the notes to repay short-term commercial paper borrowings, S&P added.
The outlook is stable.
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