NEW YORK (Standard & Poor's) Jan. 25, 2007--Standard & Poor's Ratings Services said today that the creation of a new master limited partnership (MLP) within the corporate family of Enterprise Products Partners L.P. (BBB-/Stable/--) is mildly accretive to credit quality, but does not affect the rating or outlook on Enterprise Products. The credit effect of the MLP, Duncan Energy Partners L.P., has already been factored into Enterprise's ratings. Enterprise will from time to time drop down interests in some of its more mature, stable assets into Duncan Energy. Our analysis of Enterprise will fully incorporate Duncan Energy's credit characteristics due to the close business, financial, and ownership ties between the two partnerships.
