Fitch ups Williams Partners

Fitch Ratings said it upgraded Williams Partners LP and Williams Partners Finance Corp.'s issuer default rating to BB+ from BB and senior unsecured debt rating to BB+ from BB.

The outlook was revised to stable from positive.

The upgrade reflects increasing scale of operations and diversity of cash flow, strong standalone credit measures, improving credit profile, its discretionary dropdown strategy and strong functional ties, as well as its practice of conservatively financing asset purchases, according to the agency.

Concerns include commodity price and volume risk and the potential impact that unsettled capital market conditions would have on future growth initiatives, the agency said.

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