NEW YORK (Standard&Poor's) May 18, 2004--Standard&Poor's Rating Services said today that it lowered its corporate credit ratings on Enterprise Products Partners L.P. (Enterprise Products) and Enterprise Products Operating L.P. to 'BB+' from 'BBB-' and removed the ratings from CreditWatch with negative implications. The outlook is stable. The ratings were originally placed on CreditWatch on Dec. 15, 2003 as a result of the announcement of the merger between Enterprise Products and GulfTerra Energy Partners L.P. (BB+/Watch Neg/--). The Houston, Texas-based Enterprise Products is a master limited partnership with $2.2 billion of debt outstanding as of March 2004. The rating action is based upon an assessment that the credit rating on Enterprise Products will be 'BB+' whether or
