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Moody’s rates Targa notes Ba3
Moody's Investors Service said it assigned a Ba3 rating to Targa Resources Partners LP's proposed $750 million notes due 2027.
Targa Resources Partners is wholly owned by Targa Resources Corp. Both entities’ other ratings and Targa's stable outlook are unchanged.
The note proceeds are expected to be used to reduce Targa Resources Partners’ other borrowings, and therefore, the transaction will be debt neutral, the agency said.
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