DBRS confirms Kinder Morgan

DBRS said it confirmed the issuer rating and senior notes and debentures rating of Kinder Morgan, Inc. at BBB (low).

The agency also confirmed the medium-term notes and unsecured debentures rating of Kinder Morgan Energy Partners, LP at BBB (low).

The trends are stable.

The agency said the ratings reflect the company’s relatively stable cash flows generated from its well-diversified portfolio of contracted and fee-based midstream energy infrastructure assets.

However, the substantial growth-capital needs, increased dividend commitment, a $2 billion share buyback program and exposure to commodity price and volume risks in its oil-production-related business constrain its credit profile, DBRS said.

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