S&P: El Paso unaffected

Standard & Poor's said its ratings and outlook on El Paso Corp. (B-/stable/B-3) would remain unchanged following the company's announcement that it had delayed the remarketing of about $272 million senior notes due August 2007.

The notes were originally part of El Paso's 2002 issuance of equity security units, which include obligations to purchase the company's common stock in August 2005.

Prior to that date, El Paso said it expects to seek more favorable terms for the remarketing.

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