A strong competitive position and a diverse business mix; Improvement in credit protection measures; and A sizable proportion of fee-based revenues. Rapid growth profile; An aggressive capital spending program; and Significant commodity price risk, especially with regard to natural gas liquids. We base the ratings on Enterprise Products Partners L.P. and its operating subsidiary Enterprise Products Operating LLC on its 'strong' business risk profile and 'significant' financial risk profile. Key credit factors include an improvement in credit-protection measures, a sizable proportion of fee-based revenues, and the company's development of greater business mix diversity, resulting in a strong competitive position. The partnership's rapid growth profile, which places a notable strain on the master limited partnership's (MLP) financial profile and financial flexibility
