S&P: Kinder Morgan unchanged

Standard & Poor's said there is no effect on Kinder Morgan Energy Partners LP's BBB and A-2 ratings following news that it agreed to purchase the remaining 50% interest in KinderHawk Field Services and a 25% interest in Petrohawk's gathering and treating business in the Eagle Ford Shale from Petrohawk Energy Corp. for $855 million, as well as assume $65 million in debt.

The outlook remains stable.

Kinder Morgan also announced a $220 million investment to build a new crude oil/condensate pipeline in the Eagle Ford to the Houston Ship Channel, S&P said.

The partnership indicated it will finance slightly more than one-half of the purchase price via equity issuances and has a track record of financing acquisitions in a balanced manner, so the agency said it would not expect key credit ratios to be materially affected.

The new-build pipeline benefits from a long-term contract with Petrohawk and potential additional contracts would enhance the project's economics, S&P added.

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