Strong competitive position. Large scale operations and diverse business mix. Sizable proportion of fee-based revenues. Aggressive growth strategy. Solid credit-protection measures and distribution coverage. Distributes most free cash flow to unitholders. Volatile natural gas processing margins. We expect consolidated debt to EBITDA of 4x to 4.25x at year-end 2015, and at the higher end of our expectation, modestly higher than 4x at year-end 2014. The stable outlook reflects our expectation that Enterprise Products Partners L.P. (EPD) will maintain a solid competitive position with minimal commodity risk and strong credit measures. By 2016, we expect debt to EBITDA to somewhat moderate, and expect EPD to keep financial leverage at or below 4x. We could revise the outlook to negative if debt
