On March 8, 2006, Standard&Poor's Ratings Services affirmed its 'BB+' corporate credit rating on midstream energy company Enterprise Products Partners L.P. following its annual review of the company. The outlook is stable. As of Dec. 31, 2005, the Houston, Texas-based company had $4.8 billion of debt outstanding. The ratings on Enterprise Products reflect the partnership's integrated energy midstream operations, favorable asset positioning, large proportion of stable fixed fee revenues, a shift to onshore growth from the riskier offshore, and an appropriate mix of equity funding for new growth projects. Offsetting these strengths are the partnership's aggressive growth, highlighted in Enterprise's continuing large capital spending, a likely decline in distribution coverage as much of this recent capital spending will
