NEW YORK (Standard&Poor's) Aug. 2, 2002--Standard&Poor's Ratings Services said today that it placed the ratings of energy services company Enterprise Product Partners L.P. on CreditWatch with negative implications in response to the company's acquisition of the Mid-America Pipeline Co. and the Seminole Pipeline Co. from affiliates of the Williams Companies Inc. for approximately $1.2 billion in cash. The acquisition will be financed by a bridge loan until permanent financing can be arranged. Enterprise had $1.17 billion of debt outstanding as of March 31, 2002. Houston, Texas-based Enterprise expects to issue a mix of debt and equity sufficient to support the current triple-'B' rating. The company plans to begin raising permanent financing in the 4th quarter of
