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Moody's lifts Spectra Energy
Moody's Investors Service said it upgraded the senior unsecured debt ratings of Spectra Energy Partners, LP to Baa2 from Baa3.
Moody's said the upgrade is in response to its parent Spectra Corp. (not rated) consummating its plan to drop down substantially all of the U.S. gas transmission and liquids assets into Spectra Energy, its master limited partnership affiliate.
The outlook is stable.
"This transaction is credit-positive by adding quality assets, scale, and diversity to Spectra Energy's operations," Moody's senior vice president Mihoko Manabe said in a news release.
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