TEXT-S&P affirms Kinder Morgan, El Paso Corp ratings

By latestbusinessreport on  From latestbusinessreport.com
May 24 - Overview -- U.S. midstream energy company Kinder Morgan Inc. (KMI) closed its purchase of El Paso Corp. for $38 billion. The combination creates the fourth-largest energy company in... < Prev   Next >Read Full Story

UPDATE 1-El Paso shareholders opt for shares in Kinder Morgan deal

By latestbusinessreport on  From latestbusinessreport.com
May 24 (Reuters) - El Paso Corp said holders of 78 percent of its shares voted to receive stock and share warrants in the pipeline company's acquisition by rival Kinder Morgan Inc for $23 billion. < Prev   Next >Read Full Story

El Paso applies for LNG export license from Elba Island

By Greensboro-nc.com on  From greensboro-nc.com
NEW YORK (Reuters) - Natural gas producer and pipeline operator El Paso Corp has joined the growing ranks of companies hoping to export the abundant fuel overseas, after filing an export license for its import terminal in Georgia.Read Full Story

Proposed KMI and El Paso Merger Would Create Largest U.S. Natural Gas Pipeline Company

By Ray C. Parrish on  From crudeoiltrader.blogspot.com
The proposed merger of Kinder Morgan Inc. (KMI) and El Paso Corp. (El Paso) announced on October 16, 2011 would create the nation's largest natural gas pipeline company. If approved by state and federal regulatory officials, the combined company would operate about 67,000 miles of natural gas pipelines (see the blue and red lines in the map), or about 22% the U.S. natural gas pipeline network. Upon closing, the proposed $38 billion transaction would be one of the biggest natural gas pipeline...Read Full Story

El Paso to settle Clean Air Act violations at Utah plant

By Jack Ingram on  From airandenvironmentmanagement.cleantechnology-business-review.com
El Paso Midstream Group has agreed with the US Environmental Protection Agency (EPA) to resolve Clean Air Act violations at its Blue Bell Gas plant near Roosevelt in Duchesne County, Utah.Read Full Story
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TEXT-S&P affirms Kinder Morgan, El Paso Corp ratings
We are affirming KMI's 'BB' corporate credit rating, Kinder Morgan Energy Partners L.P.'s 'BBB' corporate credit rating, and El Paso's 'BB' corporate credit rating. The outlooks are stable. -- We are raising El Paso's unsecured rating to 'BB' from 'BB ...  
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El Paso Pipeline buying assets from El Paso Corp. for $635M
El Paso Pipeline Partners LP (NYSE: EPB) will acquire the remaining 14 percent interest in Colorado Interstate Gas Company LLC and all of Cheyenne Plains Investment Co. LLC from El Paso Corp. (NYSE: EP) for $635 million and the assumption of about $242 million in debt. The transaction between El Paso Pipeline and El Paso Corp. is expected to close during coming weeks with the completion of Kinder Morgan Inc.’s (NYSE: KMI) acquisition of El...  
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Kinder Morgan finalizes buyout of El Paso
Kinder Morgan Inc. has closed on its acquisition of El Paso Corp., making Kinder Morgan the largest midstream and fourth-largest energy company in North America. Kinder Morgan first announced plans to buy El Paso in a $21 billion acquisition last October. Once the transaction becomes effective at 12:01 a.m. on May 25, Kinder Morgan will control over 67,000 miles of gas pipelines. As part of the company’s vast holdings, Houston-based Kinder...  
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Kinder Morgan completes El Paso acquisition, adds directors
Kinder Morgan Inc. (NYSE: KMI) said Thursday its acquisition of El Paso Corp. is complete and will be effective May 25. The $21.1 billion acquisition, which was announced last October, makes Houston-based Kinder Morgan the largest midstream and the fourth-largest energy company in North America. Kinder Morgan adds approximately 44,000 miles of natural gas pipelines from El Paso, Chairman and CEO Richard Kinder said in his company’s statement...  
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Fitch Maintains El Paso on Rating Watch Negative
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has maintained its Rating Watch Negative on El Paso Corp. (EP) ahead of the final close of its acquisition by Kinder Morgan Inc. (KMI) as follows: El Paso Corporation --IDR 'BB+'; --$1.25 billion senior secured revolving credit facility (2016) 'BBB-'; --Senior unsecured notes and debentures 'BB+'. El Paso Energy Capital Trust I --Trust convertible preferred securities 'BB-'. Concurrently, Fitch has...  
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