Strong competitive position derived from a diverse business mix; High proportion of fee-based revenues; Very strong processing and fractionation margins in recent years; and Strong demand, but the company expects it to soften slightly in 2008 for petrochemicals, which has resulted in higher throughputs. Aggressive growth strategy; Aggressive financial profile; and Significant near-term capital spending program, although it's expected to reduce slightly in 2009. The ratings on Enterprise Products are based on the consolidated credit quality of its operating companies and reflect its satisfactory business profile and aggressive financial profile. Key credit factors include the master limited partnership's (MLP) improved credit-protection measures, sizable proportion of fee-based revenues, and its greater business mix diversity developed over the past few years, which
