Energy Transfer Equity L.P. Ratings Affirmed And Taken Off CreditWatch Negative; Outlook Stable

U.S. midstream energy partnership Energy Transfer Equity L.P.'s (ETE) merger plan with The Williams Cos. Inc. (WMB) has ended after ETE terminated the merger agreement on June 29, 2016. We are affirming our 'BB' corporate credit and senior secured debt ratings on ETE and removing the ratings from CreditWatch with negative implications, where they were placed on May 26, 2016. The '4' recovery rating on the senior secured debt is unchanged. Our 'BBB-' corporate credit rating and stable outlook on master limited partnership (MLP) Energy Transfer Partners L.P. (ETP) and our ratings and outlooks on operating subsidiaries Sunoco L.P. and Sunoco Logistics Partners L.P. are unaffected by this action. The stable rating outlook on ETE reflects our expectation for relative

...+ U.S. midstream energy partnership Energy Transfer Equity L.P.'s (ETE) merger plan with The Williams Cos. Inc. (WMB) has ended after ETE terminated the merger agreement on June 29, 2016. + We are affirming our '##' corporate credit and senior secured debt ratings on ETE and removing the ratings from CreditWatch with negative implications, where they were placed on May 26, 2016. The '4' recovery rating on the senior secured debt is unchanged. + Our '###-' corporate credit rating and stable outlook on master limited partnership (MLP) Energy Transfer Partners L.P. (ETP) and our ratings and outlooks on operating subsidiaries Sunoco L.P. and Sunoco Logistics Partners L.P. are unaffected by this action. + The stable rating outlook on ETE reflects our expectation for relative stability in the distribution payments it receives from its ownership interests in its operating subsidiaries such that stand-alone debt to EBITDA will remain below 4x. NEW YORK (S&P Global Ratings) July 5, 2016--S&P Global...

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