OREANDA-NEWS. S&P Global Ratings today assigned its 'BBB-' issue-level rating to Colorado Interstate Gas Co. LLC's (CIG) and co-issuer Colorado Interstate Issuing Corp.'s proposed senior unsecured notes. The companies intend to use net proceeds of the offering to repay intercompany indebtedness owed to parent company Kinder Morgan Inc. (KMI), which it incurred to repay CIG's 2015 senior notes. KMI intends to use the proceeds for debt repayment and for general corporate purposes. As of June 30, 2016, KMI had about $41.6 billion of reported debt on a consolidated basis.

Houston-based KMI is the largest midstream energy company in North America. The corporate credit rating on KMI is 'BBB-' and the outlook is stable. KMI owns an interest in or operates about 84,000 miles of pipelines and terminals that transport and store natural gas, refined petroleum products, crude oil, condensate, carbon dioxide, ethanol, chemicals, and other commodities.