- Language: English
- 54 Pages
- Published: February 2013
- Region: United States
Enterprise Products Partners L.P. Feb 12
- Published: February 2012
- Standard & Poors
Strong competitive position and diverse business mix; Sizable proportion of fee-based revenues; and Improvement in credit-protection measures. Aggressive growth strategy; Distributes a majority of free cash flow to unitholders; and Volatile natural gas processing margins. Standard & Poor's Ratings Services bases its ratings on Enterprise Products Partners L.P. (EPD) and its operating subsidiary Enterprise Products Operating LLC on the companies' "strong" business risk profiles and "significant" financial risk profiles (as our criteria define the terms). Key credit strengths include EPD's operating scale, business-line diversity, and high proportion of fee-based revenues. Partially offsetting these strengths are EPD's aggressive growth strategy, commodity price exposure, significant financial leverage, and status as a master limited partnership (MLP). As an MLP, EPD distributes the majority...
Companies mentioned in this report are: Enterprise Products Partners L.P.,Enterprise Products Operating LLC
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: Full Analysis
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Enterprise Products Partners L.P.,Enterprise Products Operating LLC