S&P assigns BBB+ to Enterprise Products notes

Standard & Poor’s said it assigned its BBB+ issue-level rating to Enterprise Products Operating LLC’s (EPO) $2 billion senior unsecured notes offering. EPO’s parent, U.S. midstream energy partnership Enterprise Products Partners LP (EPD), unconditionally guarantees the notes.

The company intends to use net note proceeds to refinance the $1.3 billion notes maturing in 2015 and for general partnership purposes.

“We had already factored the issuance of $2 billion of senior unsecured notes in our expected liquidity sources for 2015,” S&P said in a news release.

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