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Fitch rates Williams Partners notes BBB-
Fitch Ratings said it assigned a BBB- rating to Williams Partners LP's proposed $1.5 billion issuance of senior notes.
The proceeds will be used to repay outstanding commercial paper, fund capital expenditures and for general partnership purposes, Fitch said.
The outlook is positive.
The ratings reflect the company's increasing scale and diversity, the agency said.
The ratings also consider the predictability of cash flow generated by its pipelines and fee-based midstream operations, Fitch said, and its conservative financial practices.
The positive outlook considers expected lower consolidated business risk resulting from the growing fee-based component of the company's midstream operations as it expands in the Marcellus and other production basins, the agency said.
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