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Fitch rates Energy Transfer notes BBB-
Fitch Ratings said it rated Energy Transfer Partners, LP's offering of $600 million 9.7% senior notes due 2019 at BBB-.
The outlook is stable.
Proceeds will be used to reduce outstanding revolving credit borrowings.
The rating reflects the increasing scale, scope and diversity of its operations, strong quantitative credit measures, a conservative distribution policy, a favorable near-term regional natural gas supply and ongoing contractually supported pipeline expansions, the agency said.
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