This concludes the ratings review begun on February 4.The credit facilities at both TRP and TRC have been terminated and were replaced by a new $2.75 billion revolving credit facility at TRC. TRP notes have a downstream guarantee from TRC, while TRC's newly instituted revolver has upstream guarantees from material domestic subsidiaries making up TRP."The ratings upgrade to Baa3 reflects a stronger business profile, remarkable improvement in Targa's credit metrics, and Moody's expectation that the company will maintain a conservative financial policy supportive of an investment grade profile," said Arvinder Saluja, Moody's Vice President. "Additionally, Targa's Baa3 senior unsecured rating reflects a simplified organizational structure through cross-guarantees of debt between the parent and the subsidiary entities."Upgrades:..Issuer: Targa Resources Partners LP....Senior Unsecured Regular Bond/Debenture, Upgraded to Baa3 from Ba1 (LGD4)Withdrawals:..Issuer: Targa Resources Corp.....