Fitch: Energy Transfer settlement a boon

Fitch Ratings said it finds the order issued by the Federal Energy Regulatory Commission approving a settlement between its Enforcement Litigation Staff and Energy Transfer Partners, LP (issuer default rating of BBB-; outlook stable) to be favorable for Energy Transfer Partners and for Energy Transfer Equity, LP (issuer default rating rated BB-; outlook stable).

The agency said that the settlement resolves all claims asserted against Energy Transfer arising from alleged manipulation of natural gas prices.

Under the terms of the settlement, Energy Transfer agrees to pay a $5 million civil penalty and establish a $25 million fund to be available to pay third parties who were harmed by the alleged manipulation, Fitch added.

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