Fitch rates Kinder Morgan notes BBB

Fitch Ratings said it assigned a BBB rating to Kinder Morgan Inc.’s proposed senior unsecured notes.

Proceeds are primarily for repaying debt coming due.

The company has about $2 billion-$3 billion of maturities every year until 2023 and management has indicated it plans to retire or refinance debt as it comes due using its free cash flow, short-term borrowings or access to capital markets, Fitch said.

“Today's offering represents performance against that plan. Fitch believes that KMI will have bond market access and revolver availability to handle the maturities, and management's stated goal of strengthening the balance sheet is consistent with its refinancings and debt retirements over the recent past,” the agency said in a press release.

The outlook is stable.

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