Fitch gives Energy Transfer loan BB+

Fitch rates Energy Transfer Equity, LP's $500 million secured term loan offering due Dec. 2, 2019 at BB+.

The loan will have similar terms and be pari passu with ETEs secured revolver and existing $1.4 billion term loan.

The agency stated that the company’s issuer default rating is BB and the outlook is stable.

The company will use the term loan proceeds to repay borrowings under its revolving credit facility, to help fund the Bakken pipeline project transaction, and for general partnership purposes.

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