U.S. diversified energy partnership Enterprise Products Partners L.P. (EPD) announced that it has acquired the general partner and about 66% of the limited partner interest in Oiltanking Partners L.P. for $4.4 billion. We are affirming EPD's 'BBB+' corporate credit rating and 'A-2' short-term rating. The outlook is stable. The stable outlook reflects our expectation that EPD will maintain a solid competitive position with minimal commodity risk and maintain pro forma leverage below 4x. On Oct. 1, 2014, Standard&Poor's Ratings Services affirmed its 'BBB+' corporate credit and senior unsecured ratings and 'A-2' short-term rating on Enterprise Product Partners L.P. following its announcement that it has acquired crude oil and refined products logistics partnership Oiltanking Partners L.P. for $4.4 billion.
