NEW YORK (S&P Global Ratings) Nov. 5, 2026--S&P Global Ratings today assigned its'BBB'issue-level rating to Dallas-based midstream energy master limited partnership Energy Transfer L.P.'s proposed senior unsecured notes due 2032, 2037, and 2057. Our'BBB'issuer credit rating and stable outlook on the partnership are unchanged. The partnership intends to use the net proceeds to refinance existing debt, including commercial paper and revolving credit facility borrowings, and for general partnership purposes. As of Sept. 30, 2026, Energy Transfer had approximately $590 million of outstanding borrowings under its revolving credit facility (not rated). Energy Transfer is one of the largest midstream energy partnerships in the U.S., with a footprint in all major U.S. production basins. The partnership operates diverse
