Research Update: Kinder Morgan And El Paso Corp. ?BB? Rtgs Affirmed, El Paso Pipeline Raised to 'BBB-' After $38 Bil. Acquisition Closes May 12
- Language: English
- Published: May 2012
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 Corp.,Colorado Interstate Gas Co.,El Paso Natural Gas Co.,ANR Pipeline Co.,Southern Natural Gas Co.,Tennessee Gas Pipeline Co.
Action: New Rating
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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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El Paso Corp.,Colorado Interstate Gas Co.,El Paso Natural Gas Co.,ANR Pipeline Co.,Southern Natural Gas Co.,Tennessee Gas Pipeline Co.