S&P: Kinder Morgan unaffected

Standard & Poor's said that Kinder Morgan Energy Partners LP's announcement that it has entered into an agreement with Tallgrass Energy Partners LP to sell certain assets in the Rocky Mountain region will not affect the ratings.

The agency said the ratings for Kinder Morgan are not affected because the partnership's financial measures are in line with the expectations that S&P factored into its analysis in late May when Kinder Morgan Inc. closed its purchase of El Paso Corp. and when Kinder Morgan closed its acquisition of Tennessee Gas Pipeline Co. and 50% of El Paso Natural Gas Co. on Aug. 13.

Although S&P said it expects KMP's capital spending plan to remain aggressive, the recently acquired assets will increase the percentage of cash flows coming from relatively low-risk natural gas pipelines; and debt to EBITDA will be adequate for the rating at about 4x in 2012.

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