Fitch ups Enterprise Products

Fitch Ratings said it upgraded its ratings on Enterprise Products Operating LLC's and Teppco Energy Partners, LP.

Additionally, the outlook has been revised to stable from positive.

Roughly $14 billion of debt is affected by this action, Fitch said.

The following ratings are affected:

• Enterprise's issuer default rating to BBB from BBB-; senior unsecured to BBB from BBB-; and junior subordinated to BB+ from BB; and

• Teppco's issuer default rating to BBB from BBB-; senior unsecured to BBB from BBB-; and junior subordinated to BB+ from BB.

Fitch's ratings action is supported by the company's size; quality and diversity of its portfolio of midstream assets; strong financial performance and conservative policy approach toward distributions and financings; and increasing percentage of fixed fee revenue, stemming from a higher number of fixed processing fee contracts.

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