...Enterprise Products Operating LLC's (EPD) ratings reflect the strength of EPD's large, diverse, integrated asset base and long-term contracts, which support resilient EBITDA and cash flow generation through cycles. Constructive market conditions support near-term upside. EPD's longstanding conservative financial policy and significant operational flexibility help preserve credit quality amid market volatility and macroeconomic, policy, and transition-related risks. The Stable Outlook reflects Fitch Ratings' expectation that EPD will maintain run-rate leverage at approximately 3.0x. Financial policy carries significant weight in the ratings. ...
