New York, October 07, 2015 -- Moody's Investors Service (Moody's) assigned Ba3 to Targa Resources Partners LP's (Targa) proposed series A cumulative redeemable perpetual preferred units (preferred units). Concurrently, Moody's affirmed all other ratings of Targa, including the Ba1 Corporate Family Rating (CFR), the Ba1-PD Probability of Default Rating (PDR), the Ba2 senior unsecured notes ratings, and the SGL-3 Speculative Grade Liquidity (SGL) Rating. The rating outlook remains stable.

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