S&P: DCP Midstream view negative

Standard & Poor’s said it affirmed its BBB- corporate credit and A-3 short-term rating on DCP Midstream LLC and revised the outlook to negative from stable.

At the same time, S&P affirmed the BBB- corporate credit rating on operating partnership DCP Midstream Partners LP and revised the outlook to negative.

S&P said the outlook revision on both entities reflects its recently lowered commodity price assumptions and S&P’s expectation of a sustained weakness in natural gas liquids prices, which will pressure the consolidated EBITDA and financial leverage.

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