S&P: Enterprise Products unaffected

Standard & Poor's said the acquisition of the general partner of TEPPCO Partners LP (BBB/stable/--) by Enterprise Products Co. Inc. will not affect the ratings or outlook on Enterprise Products Partners LP (BB+/positive/--).

Enterprise Products Co. Inc. is the majority owner of Enterprise Products Partners' general partner.

An existing non-consolidation opinion is expected to safeguard the separateness between EPCO, Enterprise Products GP LLC, Enterprise Products Partners' general partner and Enterprise Products Partners, according to S&P.

S&P said its assessment also relies on representations by EPCO's management that Enterprise Products Partners will not provide capital or credit support to Enterprise Products to facilitate the current transaction or any other transaction in the future.

The company has represented that this is not a merger of Enterprise Products Partners and TEPPCO.

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