Fitch rates Energy Transfer notes BBB-

Fitch Ratings said it assigned a BBB- rating to Energy Transfer Partners, LP's proposed issuance of senior unsecured notes with a benchmark size of $1.25 billion.

The outlook is stable.

The proceeds will be used to repay a $455 million term loan at subsidiary Trunkline LNG and to repay borrowings under its credit facility, Fitch said.

The ratings reflect the company's increased scale and diversity, the agency said. Recently completed merger transactions and pending asset sales result in a larger, more diversified and generally financially stronger family of Energy Transfer companies, Fitch said.

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