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Fitch rates Energy Transfer notes BB+
Fitch Ratings said it assigned a BB+ rating to Energy Transfer Equity, LP's proposed offering of $500 million 5 7/8% senior notes due 2024.
The new notes will be additional notes issued under an indenture pursuant to which Energy Transfer previously issued $450 million of 5 7/8% senior notes.
The company's issuer default rating is BB.
The outlook is stable.
The proceeds will be used to repay borrowings under its revolving credit facility and for general partnership purposes, Fitch said.
Recently completed merger transactions and asset sales have resulted in a larger, more diversified and generally stronger family of Energy Transfer companies, the agency said.
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