DBRS cuts Spectra Capital

DBRS said it has downgraded the issuer rating and unsecured debentures rating of Spectra Energy Capital, LLC to BBB from BBB (high) and the rating on the company's commercial paper to R-2 (middle) from R-2 (high).

The trends are now stable.

The agency said that this rating action removes the ratings from under review with negative implications, where they were placed on June 12, and follows the announcement that it has entered into a contribution agreement with Spectra Energy Partners, LP.

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