S&P rates DCP Midstream BBB-

Standard & Poor's said it assigned a BBB- corporate credit rating to DCP Midstream Partners LP.

The outlook is stable.

The rating is based on the company's strong link to its higher-rated parent Midstream (BBB/stable/A-2), according to the agency.

Credit factors include a sizable portion of fee-based revenue and good geographic diversity, the agency said.

Commodity risk, limited asset diversity and an aggressive financial profile partially offset these strengths, the agency noted.

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