S&P gives Enterprise Products notes BB

Standard & Poor's said it assigned its BB rating to Enterprise Products Operating LP's proposed $700 million fixed junior subordinated notes due 2068.

S&P said it also affirmed its BBB- corporate credit rating on the company.

The proceeds from the notes will be used for general corporate purposes, the agency added.

The outlook is stable.

The agency said that the ratings on Enterprise Operating are based on the consolidated credit quality of the Enterprise Products operating companies and the ratings on the Enterprise Products entities reflect the master limited partnership's improved credit-protection measures and its greater business mix diversity developed over the past few years.

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