On Nov. 26, 2003, Standard&Poor's Ratings Services lowered its corporate credit ratings on Enterprise Products Partners L.P. and Enterprise Products Operating L.P. to 'BBB-' from 'BBB'. The outlook is negative. The Houston, Texas-based master limited partnership (MLP) had about $1.8 billion of debt as of Sept. 30, 2003. The lower corporate credit rating is based upon the company's much weaker financial performance in 2003 compared with previous years. Weaker financial measures are primarily due to low demand for natural gas liquids (NGLs) in the second and third quarters of 2003. The negative outlook reflects Standard&Poor's concerns regarding the stability of NGL demand for 2004 and overall fundamental problems in the petrochemical sector that have caused the
