S&P affirms Oneok

Standard & Poor's said it affirmed its BBB corporate credit rating on Oneok Inc.

As of March 31, the agency said that Oneok Inc. had total adjusted debt about $6.2 billion on a consolidated basis of which $3.7 billion relates to Oneok Partners LP Oneok Inc. does not guarantee the debt of Oneok Partners.

The affirmation incorporates its expectations that completion of the company's major capital program will result in financial performance that is appropriate for the BBB rating, S&P said, adding that the affirmation also incorporates its view that the company's business risk profile is improving somewhat as a result of additional earnings and cash flow from fee-based operations and a measured reduction and focus on the company's energy services segment.

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