New York, May 17, 2013 -- Moody's Investors Service assigned a Caa1 rating to the proposed $365 million secured term loan due 2019 of Crestwood Holdings, LLC (Crestwood). Concurrently, Moody's placed the new debt under review for upgrade with the expectation that the term loan and Crestwood's B2 Corporate Family Rating (CFR) will be rated up to two notches higher following successful completion of certain initial steps outlined in the announcement of a merger between Crestwood and Crestwood Midstream Partners, LP (CMLP), and Inergy LP (NRGY) and Inergy Midstream LP (NRGM; collectively with NRGY, Inergy).

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