Moody's alters Enbridge view to negative

Moody's Investors Service said it changed the outlook for Enbridge Inc., Enbridge Energy Partners, LP, Enbridge Energy LP, Spectra Energy Partners, LP and Texas Eastern Transmission LP to negative from stable.

"The negative outlook on Enbridge is prompted by the company's announcement that it would acquire U.S. gas utilities for approximately $14 billion, adding pressure to an already weak financial profile that we expect to persist following the transaction close," said Gavin MacFarlane, a Moody’s vice president and senior credit officer, in a press release.

" Although Enbridge's business risk profile improves modestly with the transaction, it is not enough to offset ongoing pressure on the company's financial profile, " MacFarlane added.

Moody’s also affirmed the issuer’s ratings, including Enbridge’s Baa1 senior unsecured ratings.

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