Fitch rates Kinder Morgan notes BBB-

Fitch Ratings said it assigned a BBB- rating to Kinder Morgan Inc.'s proposed senior notes issuance.

Proceeds are expected to be used to pay the cash portion of the merger consideration for the acquisition of Kinder Morgan Energy Partners, LP and El Paso Pipeline Partners, LP, related fees and expenses of the transactions, and debt outstanding under Kinder Morgan’s and Kinder Morgan Energy’s existing credit agreements.

On Aug. 11, 2014, Kinder Morgan announced that it will acquire all of the outstanding equity securities of Kinder Morgan Energy; Kinder Morgan Management, LLC; and El Paso Pipeline in a transaction valued at over $71 billion.

The deal effectively rolls Kinder Morgan’s partnership subsidiaries into a more traditional taxpaying corporate structure. The mergers have received all required regulatory approvals and unit-holders' votes and are scheduled to close on Nov. 26.

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