TEXT-Moody's release on Energy Transfer Partners

(The following statement was released by the rating agency)

March 25 - Moody's Investors Service affirmed Energy Transfer Partners
L.P.'s (ETP.N: Quote, Profile, Research) Baa3 senior unsecured ratings and stable outlook. Moody's has
assigned Baa3 ratings to ETP's senior notes offering announced this morning.
Proceeds from the offering will be used to repay a $500 million 364-day term
loan facility and to repay borrowings under ETP's revolving credit facility.
The stable outlook reflects ETP's strong financial and operational performance,
its attractive organic growth projects, stated commitment to issue equity, and
progress toward the resolution of outstanding regulatory issues. For further
details and analysis, refer to Moody's updated credit opinion for ETP.
Energy Transfer Partners, L.P. is headquartered in Dallas, Texas.
(New York Ratings Team)