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Fitch rates Kinder Morgan Energy notes BBB
Fitch Ratings said it assigned a BBB rating to Kinder Morgan Energy Partners, LP's $1 billion of 10-year and 30-year notes.
The outlook is stable.
The proceeds will be used to repay commercial paper and for general corporate purposes, potentially including for acquisitions, Fitch said.
The ratings reflect the significant and growing scale and scope of operations; geographic and functional diversity of assets; successful track record in acquiring, expanding, financing and operating energy operations; and predictable earnings and cash flow generated from natural gas and refined products pipelines, the agency said.
Other considerations and credit concerns include modestly negative effects in weak economies on asset utilization, aggressive expansion spending and exposure to changes in natural gas and oil prices, Fitch said.
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