Moody's cuts Kinder Morgan, could up El Paso

Moody's Investors Service said it downgraded the senior secured debt ratings for Kinder Morgan, Inc. to Ba2 from Ba1 with a negative outlook.

This action concludes the review that was initiated on Oct. 18, 2011, after Kinder Morgan agreed to purchase 100% of the stock of El Paso Corp.

Moody's also placed El Paso's ratings on review for upgrade and affirmed the senior unsecured ratings for Kinder Morgan Energy Partners, LP at Baa2 and El Paso Pipeline Partners Operating Co. at Ba1.

The El Paso ratings are under review to reflect the possibility that Kinder Morgan will guarantee El Paso's debt.

If not for the guarantee, a downgrade of El Paso's rating is likely, the agency said.

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