Fitch affirms DCP Midstream

Fitch Ratings said it has affirmed DCP Midstream LLC's senior unsecured debt and issuer default rating at BBB+ and DCP's short-term issuer default rating at F2, which applies to its commercial paper program.

The outlook is revised to negative from stable.

The agency added that DCP is a 50:50 joint venture between ConocoPhillips (issuer default rating A; stable outlook) and Spectra Energy Capital, LLC (issuer default rating BBB; stable outlook).

The revision to a negative outlook reflects concerns regarding the impact of low commodity prices on the company's cash flows, the agency said.

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