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Fitch rates Enterprise Products notes BBB+
Fitch Ratings said it assigned a BBB+ rating to Enterprise Products Operating LLC's proposed offering of senior unsecured notes.
Enterprise Products Operating is the operating partnership of master limited partnership Enterprise Products Partners LP.
The proceeds will be used for general corporate purposes, which may include repayment of commercial paper.
The outlook is stable.
The ratings reflect Enterprise Products' scale and the quality of its highly networked midstream facilities, Fitch said.
The ratings consider the management team's commercial acumen, exhibited in its marketing and project development activities, strong and steady resulting cash flow and the company's conservative management approach, the agency said.
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