Fitch rates DCP Midstream notes BBB-

Fitch Ratings said it assigned a BBB- rating to DCP Midstream Partners, LP's proposed $500 million senior unsecured note offering due Dec. 1, 2017.

The outlook is stable.

The agency said the company's ratings reflect the significant benefits and strong operational and financial linkage DCP Midstream has with its sponsor and general partner, DCP and indirectly with DCP's owners, Spectra Energy Corp. and Phillips 66. DPM's ratings are also reflective of DPM's stand-alone credit profile which continues to move more in-line with its investment grade master limited partnership peers, in terms of size, scale, diversity and business risk profile of its asset base.

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