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Fitch: Spectra Energy Capital notes BBB
Fitch Ratings said it assigned a BBB rating to Spectra Energy Capital LLC's proposed offering of senior unsecured notes due 2023.
The outlook is stable.
The notes will be fully and unconditionally guaranteed by Spectra Energy Capital's parent, Spectra Energy Corp., on a senior unsecured basis.
Note proceeds will be used to repay commercial paper used to repay the $495 million aggregate principal amount of Spectra Energy Capital's 6.25% notes that matured on Feb. 15, 2013.
Note proceeds also may be used to fund capital expenditures and for other corporate purposes, including acquisitions and the repayment of other commercial paper.
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