S&P assigns BBB- to Kinder Morgan notes

Standard & Poor’s said it assigned its BBB- issue-level rating to Kinder Morgan Inc.’s proposed senior unsecured notes.

The company intends to use net proceeds to pay the cash portion of the costs for the merger into Kinder Morgan Inc. of Kinder Morgan Energy Partners LP (KMP) and El Paso Pipeline Partners LP, merger-related fees and expenses, and outstanding amounts under KMI and KMP’s existing credit agreements.

The corporate credit rating is BBB-, and the outlook is stable.

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