S&P rates Williams notes BBB

Standard & Poor's said it assigned its BBB issue-level rating to Williams Partners LP's proposed senior unsecured note offering, which it plans to issue in tranches of 10 and 30 years.

The partnership intends to use the net proceeds to repay amounts outstanding under its commercial paper program, to fund growth capital spending and for general partnership purposes.

As of March 31, Williams Partners had $9.8 billion of balance-sheet debt.

The corporate credit rating on Williams Partners is BBB and the outlook is stable.

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