Bulletin: Kinder Morgan Energy Partners' Rating Not Affected By Asset Purchase May 11
- ID: 1771579
- May 2011
- Standard & Poors
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.
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