Fitch gives Kinder Morgan notes BBB

Fitch Ratings said it has assigned a BBB rating to Kinder Morgan Energy Partners, LP's $400 million of 5.8% senior notes due 2021 and $600 million of 6.5% senior notes due 2039.

Fitch added that note proceeds will be used to repay short-term debt.

The outlook is stable.

According to the agency, Kinder Morgan's ratings and stable outlook reflect the following characteristics:

• Significant scale and scope of operations;

• Geographic and functional diversity of assets;

• A favorable track record in acquiring, expanding and operating energy assets;

• Predictable earnings and cash flow generated from natural gas and refined products pipeline and bulk and liquids terminal operations; and

• A financial and operating profile expected to remain consistent with its current rating.

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