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S&P affirms Southern Union
Standard & Poor's said it affirmed the BBB- corporate credit rating on Southern Union Co. and subsidiary Panhandle Eastern Pipe Line LP.
The outlook remains negative.
The rating on Southern Union reflects a satisfactory business risk profile and aggressive financial profile, the agency said. Southern Union's credit strengths include the excellent business risk profiles of its transportation and storage segment and distribution segment, S&P noted.
The issuer's adjusted total debt-to-EBITDA ratio is about 4.7 times.
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