S&P rates Kinder Morgan A-3

Standard & Poor’s said it assigned an A-3 short-term corporate credit rating to Kinder Morgan Inc., along with an A-3 short-term rating to its $4 billion commercial-paper program.

The company’s corporate credit rating is BBB- and the outlook is stable.

The company will use the program for working capital requirements and other general corporate purposes, S&P said.

Kinder Morgan’s $4 billion revolving credit facility, which expires in September 2019, fully backstops the program,, the agency said.

The stable outlook reflects an expectation that financial leverage will be slightly above 5.5x through 2017 as the company finances and executes a large organic-spending program, the agency said.

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