NEW YORK (S&P Global Ratings) Jan. 12, 2022--S&P Global Ratings today said that Texas-based Enterprise Products Partners L.P.'s (EPD's; BBB+/Stable/A-2) announced acquisition of Navitas Midstream Midland Basin LLC (B/Watch Pos/--) for $3.25 billion will minimally increase leverage. Our ratings are unchanged. We expect EPD to fund the transaction with short-term borrowings and cash, though the partnership has not disclosed the final financing details. As of Sept. 30, 2021, EPD had $2.2 billion of cash on its balance sheet, full availability on the partnership's $3 billion revolving credit facility, and full availability on a $1.5 billion 364-day credit facility that matures in September 2022. We expect the EBITDA contribution from Navitas to be small relative to EPD's expected 2021 EBITDA of
