S&P affirms Southern Union, off watch

Standard & Poor's said it affirmed its BBB corporate credit rating on Southern Union Co. and removed the rating from CreditWatch with negative implications.

S&P noted the rating affirmation and removal from CreditWatch follow a review of the company and its plans to acquire Sid Richardson Energy Services for $1.6 billion.

The outlook is negative.

The negative outlook reflects the risk of a downgrade if the company is unable to restore its financial profile to acceptable levels within a reasonable time following the acquisition, the agency noted.

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