NEW YORK (Standard & Poor's) Dec. 15, 2003--Standard & Poor's Ratings Services said today that it placed its 'BBB-' corporate credit ratings on Enterprise Products Partners L.P. and Enterprise Products Operating L.P. on CreditWatch with negative implications. The CreditWatch placement is in response to the company's announcement of its intention to merge with GulfTerra Energy Partners L.P. (BB+/Watch Neg/--) in a two stage process, which is expected to be completed in the fourth quarter of 2004. GulfTerra provides midstream natural gas services, crude oil gathering transportation, natural gas liquids transportation, and fractionation in New Mexico, southern Texas, and the Gulf of Mexico region. GulfTerra is a master limited partnership (MLP) with about $1.9 billion of debt outstanding. The proposed merger
