Fitch rates Kinder Morgan notes BBB

Fitch Ratings said it assigned a BBB rating to Kinder Morgan Inc.'s upcoming issuance of senior unsecured notes.

“The rating is supported by its significant positions in must-run assets that comprise a meaningful percent of U.S. energy network infrastructure. Its biggest segment, natural gas pipelines, benefits from long-term take-or-pay contracts,” Fitch said in a press release.

The proceeds will be used for general corporate purposes, including funding the upcoming 2021 and a portion of the 2022 maturities.

In August, KMI entered a new $3.5 billion revolving credit facility due in August 2026 and amended its existing facility, lowering the capacity to $500 million and keeping the November 2023 maturity.

The outlook is stable.

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