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Bulletin: Kinder Morgan Energy Partners' Rating Not Affected By Asset Purchase May 11 Product Image

Bulletin: Kinder Morgan Energy Partners' Rating Not Affected By Asset Purchase May 11

  • ID: 1771579
  • May 2011
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) May 5, 2011--Standard & Poor's Ratings Services said today that there is no effect on the rating on Kinder Morgan Energy Partners L.P. (KMP; BBB/Stable/A-2) following its announcement that it has agreed to purchase the remaining 50% interest in KinderHawk Filed Services (a natural gas gathering and treating asset in the Haynesville Shale) and a 25% interest in Petrohawk's gathering and treating business in the Eagle Ford Shale from Petrohawk Energy Corp. (BB-/Stable/--) for $855 million, as well as assume $65 million in debt. KMP also announced a $220 million investment to build a new crude oil/condensate pipeline in the Eagle Ford to the Houston Ship Channel. The partnership indicated it will finance slightly more...

Companies mentioned in this report are:
- Kinder Morgan Energy Partners L.P.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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