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El Paso Corp.'s $3 Billion Shelf Is Rated; Company Looks to Strengthen Financial Profile Feb 02 Product Image

El Paso Corp.'s $3 Billion Shelf Is Rated; Company Looks to Strengthen Financial Profile Feb 02

  • ID: 2025925
  • February 2002
  • Standard & Poors

FEATURED COMPANIES

  • ANR Pipeline Co.
  • El Paso Holdco LLC
  • El Paso Natural Gas Co.
  • Southern Natural Gas Co.
  • MORE

Abstract
NEW YORK (Standard & Poor's) Feb. 11, 2002--Standard & Poor's said today that it assigned its triple-'B'/triple-'B'-minus/triple-'B'-minus to gas pipeline operator El Paso Corp.'s (BBB+/Stable/A-2) $3 billion universal shelf registration of senior unsecured notes, junior subordinated debt, preferred stock that may be issued by El Paso Capital Trust II and/or El Paso Capital Trust III. El Paso filed its universal shelf on Feb. 8, 2002. The outlook is stable. Houston, Texas-based El Paso Corp. is North America's biggest natural gas pipeline operator and has about $17 billion in debt. According to credit analyst William Ferara, "Standard & Poor's rating expectations for the consolidated entity are based in part on El Paso's stated intention to strengthen its financial profile and simultaneously...

Companies mentioned in this report are:
- El Paso Holdco LLC
- Colorado Interstate Gas Co.
- El Paso Natural Gas Co.
- ANR Pipeline Co.
- Southern Natural Gas Co.
- Tennessee Gas Pipeline Co.

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, READ MORE >

- El Paso Holdco LLC
- Colorado Interstate Gas Co.
- El Paso Natural Gas Co.
- ANR Pipeline Co.
- Southern Natural Gas Co.
- Tennessee Gas Pipeline Co.

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