S&P rates Spectra notes BBB

Standard & Poor's said it assigned its BBB rating to Spectra Energy Capital LLC's issuance of $500 million of senior unsecured notes.

Spectra Energy Capital will use the proceeds from the notes to fund capital expenditures and for general corporate purposes, including the repayment of commercial paper, the agency said.

The outlook is stable.

The agency noted that the ratings on Spectra Energy Capital are based on the consolidated credit quality of Spectra Energy and reflect its strong business risk profile and intermediate financial risk profile.

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