Fitch: Kinder Morgan notes BBB

Fitch Ratings said it assigned a BBB rating to Kinder Morgan Energy Partners, LP's $1 billion 3.95% senior notes due 2022.

The outlook is stable.

The proceeds will be used to retire $450 million principal amount of 7.125% senior notes due March 15, 2012, repay outstanding commercial paper and for general corporate purposes.

Kinder Morgan, Inc. is the parent company for Kinder Morgan Kansas, Inc. and the indirect owner of the 2% general partner and about 11% limited partner interests in Kinder Morgan Energy Partners.

Kinder Morgan has agreed to acquire El Paso Corp. in a $38 billion transaction expected to close in second quarter 2012.

Over the near term, Kinder Morgan Energy will be unaffected by its parent's purchase of El Paso, Fitch said.

The ratings reflect the significant and growing scale and scope of operations, the agency said, and its geographic and functional diversity of assets.

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