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December 5, 2013
07:36 EDTCMLPCrestwood Midstream sees Crestwood Equity FY14 adjusted EBITDA $520M-$570M
Sees adjusted EBITDA from operational assets owned by Crestwood Equity is estimated to be in the range of $55M-$60M in FY14 and adjusted distributable cash flow is estimated to be in the range of $85M-$95M, resulting in targeted distribution growth of 5%-10% and coverage of 1.00 to 1.05 times cash distributions paid. The company said, "Although FY14 performance will be challenged by ongoing weakness in Gulf Coast natural gas storage fundamentals, we believe the long-term fundamentals remain positive and expect to mitigate weak storage fundamentals impacting our Tres Palacios facility through cost reduction and asset optimization.
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