Fitch Affirms Spectra Energy Capital LLC And Texas Eastern Transmission LP

摘要

Fitch Ratings has affirmed the outstand- ing ratings of Spectra Energy Capital LLC (SEC) and Texas Eastern Transmission LP (TETCO). This action affects $3.3 billion of debt at SEC and $1.2 billion of long- term debt at TETCO as of March 31, 2011. The rating outlooks are stable. SEC's rating affirmation reflects the diversity and quality of its asset base and the high percentage of cash flows derived from stable pipeline, storage and gas distribution assets. The ratings re- flect the earnings and cash-flow stability driven by SEC's high percentage of fee- based and capacity reservation revenue derived from the company's regulated operations, principally its large-scale interstate pipelines, a sizable gas LDC in Ontario and its storage assets.