BANGALORE (Thomson Financial) - Fitch Ratings said it has assigned a 'BBB-'
rating to TEPPCO Partners LP's (TPP) issuance of 1 bln usd senior unsecured
notes on the stability and predictability of cash flows from TPP's pipeline,
transportation, gathering and storage operations.
The ratings agency said the credit is further strengthened by the quality
and diversity of TPP's underlying businesses, high percentage of asset-based
revenues and disciplined approach to selecting and funding capital investments
in those assets.
The outlook on the ratings is stable, reflecting Fitch's expectation that
TPP's credit metrics, which may weaken slightly over the next two years as the
company completes construction of its Motiva refined products terminal, will
remain within parameters for its current rating category.
TFN.newsdesk@thomson.com
tsm
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