Fitch rates Energy Transfer loan BB+

Fitch Ratings said it assigned a BB+ rating to Energy Transfer Equity, LP's proposed $400 million incremental loan offering under its secured term loan due Dec. 2, 2019.

The incremental loans will have similar terms and be fungible with the existing term loan, Fitch said.

The company has an issuer default rating of BB and a stable outlook.

The term loan proceeds will be used to repay borrowings under its revolving credit facility and for general partnership purposes, the agency said.

The ratings reflect the company's increased scale and diversity as recently completed merger transactions and asset sales have resulted in a larger, more diversified family of companies, Fitch said.

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