NEW YORK (Standard&Poor's) Sept. 22, 2004--Standard&Poor's Rating Services said today that it affirmed its 'BB+' corporate credit rating on Enterprise Products Partners L.P. At the same time, Standard&Poor's assigned its 'BB+' senior unsecured rating to Enterprise Products' subsidiary Enterprise Products Operating L.P.'s proposed (in aggregate) $2.0 billion note issues. The notes will be issued in four tranches, due 2007, 2009, 2014 and 2034. The outlook is stable. As of June 30, 2004, the Houston, Texas-based company had about $4.2 billion of debt outstanding, pro forma for the proposed and other recent financings. Proceeds from the issuances will be used to permanently finance acquisition-related bank debt related to Enterprise Products' pending merger with GulfTerra Energy
