Moody's affirms Energy Transfer Partners

Moody's Investors Service said it affirmed Energy Transfer Partners, LP's Baa3 senior note rating with a stable outlook, Regency Energy Partners LP's Ba3 corporate family rating with a positive outlook and Energy Transfer Equity's Ba1 corporate family rating with a negative outlook.

The affirmations are in response to news that Energy Transfer Partners and Regency Energy would acquire LDH Energy Asset Holdings LLC in an all-cash transaction valued at $1.925 billion, Moody's said.

The assets will be held in a new joint venture owned 70% by Energy Transfer and 30% by Regency Energy, with expected closing in May 2011, the agency said.

The affirmations reflect the increased scale and asset diversification for the companies and further gains in more stable fee businesses arising from the addition of LDH's assets, Moody's said.

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