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Williams Partners (WPZ -2.6%) is downgraded to Neutral from Buy at BofA/Merrill, which views...

Williams Partners (WPZ -2.6%) is downgraded to Neutral from Buy at BofA/Merrill, which views WPZ's risk/reward profile as balanced given its robust backlog of organic growth projects offset by weak natural gas liquids pricing, tight cash distribution coverage and H2 2013 equity needs.
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