S&P lowers Kinder Morgan

Standard & Poor's said it lowered its long-term corporate credit rating on Kinder Morgan Inc. to BB- from BBB.

At the same time, S&P said it withdrew its A-2 short-term corporate credit and commercial paper ratings on the company, while the ratings were removed from CreditWatch with negative implications.

The agency added it lowered its long-term corporate credit rating on Kinder Morgan Energy Partners L.P. to BBB from BBB+ and removed the rating from CreditWatch with negative implications.

At the same time, S&P said it affirmed its A-2 short-term and commercial paper ratings on the company.

The ratings on the companies were originally placed on CreditWatch on May 30, 2006, following the announcement of an offer by a group of Kinder Morgan management and private investors to purchase the outstanding shares of Kinder Morgan, S&P said.

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