Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kinder Morgan Energy Partners, LP > News item |
Fitch rates Kinder Morgan notes BBB
Fitch Ratings said it assigned a BBB rating to Kinder Morgan Energy Partners, LP's proposed senior notes issuance.
The outlook is stable.
The proceeds will be used to repay commercial paper and for general corporate purposes.
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, Fitch said.
The ratings also consider an expectation for stable credit metrics in 2014 with adjusted debt-to-EBITDA to about 4.0x or below for the year, the agency said.
Moreover, recent large acquisitions have been funded in a credit-neutral manner, Fitch added.
Credit concerns include the company's exposure to interest rates on about $5.7 billion of variable rate debt; modestly negative effects of a weak U.S. economy on asset utilization; regulatory challenges and potential refunds relating to its products pipelines, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.