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Prospect News home > News index > List of issuers D > Headlines for DCP Midstream Partners, LP > News item |
Fitch rates DCP Midstream notes BBB-
Fitch Ratings said it assigned a BBB- rating to DCP Midstream Partners, LP's proposed senior unsecured note offering due 2019 and 2044.
Proceeds will be used to fund a portion of DCP Midstream's recently announced acquisition of a 33.33% membership interest in two separate natural gas liquids pipeline entities, the remaining 20% interest in DCP SC Texas GP and a completed natural gas processing plant and another gas processing plant currently under construction.
DCP Midstream's ratings reflect the significant benefits and strong operational and financial linkage the company has with DCP Midstream, LLC and indirectly with its owners, Spectra Energy Corp. (BBB, stable) and Phillips 66.
The ratings also reflect DCP Midstream's standalone 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, the agency said.
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