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S&P affirms Energy Transfer Equity
S&P said it affirmed its BB- corporate credit rating on Energy Transfer Equity LP.
The outlook is stable.
The agency also affirmed the BB- rating on the company's senior secured debt. The 4 recovery rating is unchanged and indicates an expectation for average (30%-50%; rounded estimate: 45%) recovery if a default occurs.
Energy Transfer announced it has an agreement to acquire the general partner, incentive distribution rights and about 12.5 million common units of USA Compression Partners LP from Riverstone Holdings LLC for about $250 million.
S&P said the action reflects a view that the proposed transaction will not materially affect Energy Transfer’s stand-alone credit measures.
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