MUMBAI (Thomson Financial) - Moody's Investors Service changed its outlook
on TEPPCO Partners LP to stable from negative, and affirmed the ratings.
The agency affirmed TEPPCO's 'Baa3' senior unsecured rating. Moody's also
affirmed the 'Ba1' corporate family rating of Enterprise GP Holdings LP (EPE).
EPE owns a 4.8 pct stake in TEPPCO.
"These actions reflect EPE equity issuance and improving overall family
leverage, completion of several organic expansion projects and expected cash
flow growth in 2008," the agency said.
It added that these positive trends are tempered by the company's high
leverage currently following the recent Cenac acquisition and an active organic
growth capex program in 2008.
TFN.newsdesk@thomson.com
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