TEXT-S&P bulletin on Inergy LP

(The following statement was released by the rating agency)

March 4 - Standard & Poor's Ratings Services said today that retail and
wholesale propane distributor Inergy L.P.'s (BB-/Stable/--) announcement of its
agreement to purchase the retail divisions of Farm & Home Oil Company LLC, Rice
Oil Co., and Capitol Propane LLC for about $53 million will not affect the
company rating or outlook. Although the fuel oil business of Farm & Home
exposes Inergy to lower margins than propane, the acquisition does not affect
Inergy's overall business mix. We view these transactions as a continuation of
Inergy's strategy to add complimentary businesses that strengthen the company's
footprint in the Northeast and upper Midwest and contribute additional cash
flow at a reasonable cost.
(New York Ratings Team)