S&P: Texas Gas unchanged

Standard & Poor's said it left the BBB issue-rating unchanged on Texas Gas Transmission LLC's $325 million 4.5% senior unsecured notes due 2021.

Texas Gas announced that it is proposing to add $115 million to the issue, S&P said.

Texas Gas, a wholly owned operating subsidiary of Boardwalk Pipeline Partners LP, intends to use the proceeds to fund the tender of the company's remaining outstanding amounts under its 5.5% notes due 2013.

S&P said it bases the BBB corporate credit rating on Texas Gas on the consolidated credit profile of Boardwalk.

The corporate credit rating on Boardwalk is BBB and the outlook is stable, the agency said.

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