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Research Update: S&PCORRECT: Ratings On Kinder Morgan Inc., El Paso Corp. Are Affirmed After Announced Acquisition Oct 11 Product Image

Research Update: S&PCORRECT: Ratings On Kinder Morgan Inc., El Paso Corp. Are Affirmed After Announced Acquisition Oct 11

  • ID: 2025187
  • October 2011
  • Standard & Poors

FEATURED COMPANIES

  • El Paso LLC
  • K N Capital Trust I
  • Kinder Morgan G.P. Inc.
  • Kinder Morgan Inc.
  • KN Capital Trust III
  • MORE

Abstract
U.S. midstream energy master limited partnership (MLP) Kinder Morgan Inc. (KMI) has announced an agreement to purchase El Paso Corp. for $38 billion. The combination will create the fourth-largest energy company in North America, with the largest natural gas pipeline network by a significant margin. The parties expect to close the transaction in second-quarter 2012. We affirmed KMI's 'BB' corporate credit rating and maintain the stable outlook on the rating. We affirmed the 'BB' corporate credit rating on El Paso Corp. and its wholly owned subsidiaries and removed them from CreditWatch with positive implications, where we placed them on May 25. The outlook on the rating is stable. Our 'BB' corporate credit rating on El Paso Corp.'s MLP, El Paso...

Companies mentioned in this report are:
- Kinder Morgan Inc.
- Colorado Interstate Gas Co.
- Tennessee Gas Pipeline Co.
- El Paso LLC
- K N Capital Trust I
- KN Capital Trust III
- Kinder Morgan Energy Partners L.P.
- Kinder Morgan Finance Co ULC
- Kinder Morgan G.P. Inc.
- El Paso Pipeline Partners L.P.
- El Paso Pipeline Partners Operating Co. L.L.C.
- Southern Natural Issuing Corp

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- Kinder Morgan Inc.
- Colorado Interstate Gas Co.
- Tennessee Gas Pipeline Co.
- El Paso LLC
- K N Capital Trust I
- KN Capital Trust III
- Kinder Morgan Energy Partners L.P.
- Kinder Morgan Finance Co ULC
- Kinder Morgan G.P. Inc.
- El Paso Pipeline Partners L.P.
- El Paso Pipeline Partners Operating Co. L.L.C.
- Southern Natural Issuing Corp

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