We now view Magellan Midstream Partners L.P.'s business risk profile as strong, given the partnership's increased size and scale, improved competitive position, and the relatively low volatility of its operations. We now view the partnership's financial risk profile as significant, given our expectation of slightly weaker credit metrics, compared with our previous forecast. We are affirming our 'BBB+' corporate credit rating on Magellan Midstream Partners L.P. and our 'BBB+' issue-level rating on Magellan's senior secured debt. The outlook is stable. We are also affirming our 'A-2' short-term corporate credit and commercial paper ratings on Magellan. The stable outlook reflects our expectation that Magellan will maintain debt to EBITDA of about 3.5x to 3.7x in 2017 and 2018. On March 27,
