Fitch affirms DCP Midstream

Fitch Ratings said it affirmed DCP Midstream LLC's issuer default rating at BBB, senior unsecured at BBB, short-term issuer default rating at F2 and commercial-paper rating at F2.

The outlook is stable.

The ratings reflect DCP Midstream's conservative capital structure and the scale, scope and geographic diversity of its assets, Fitch said.

Fitch noted that DCP retains a fair amount of sensitivity to commodity prices, but the risk of cash flow volatility is mitigated by the strength of its balance sheet.

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