Fitch affirms DCP Midstream

Fitch Ratings said it affirmed DCP Midstream LLC's unsecured debt and issuer default rating at BBB and short-term issuer default rating and commercial paper rating at F2.

The outlook is stable.

The ratings reflect the strong scale, scope and geographic diversity of the company's assets, its relatively conservative capital structure and expectations for continued earnings stability as commodity prices and fractionation spreads have recovered from the late 2008 through early 2009 weakness, Fitch said.

The company has been able to better balance its commodity price sensitivity through the structuring of its contracts, the agency said.

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