Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Analyst for Faisel Khan - Citigroup.
Analyst for Faisel Khan - Citigroup
What exchange rate are you guys assuming in your guidance?
Peter Kelly
About $1.42 or $1.43. But don’t forget we’ve already got that hedged.
Lon R. Greenberg
Effectively because of the way we hedge our propane purchases.
Analyst for Faisel Khan - Citigroup
Over what period do you hedge it?
Lon R. Greenberg
We’ve got all of 2009 covered; most of 2010 covered.
Analyst for Faisel Khan - Citigroup
What type of propane demand growth do you expect in both the US and international, and what have you seen so far with the decline in commodity prices versus your expectations with regard to the demand?
Lon R. Greenberg
Let me take a shot at that. The industry in the US probably is not going to experience any growth. For us to tell you that we could grow our business 5%, 6%, 7% you ought to be checking our sanity I think that that is something that’s achievable for us in that environment.
We do have a goal of some growth and the reason we are able to execute and create that growth is we really approach it through three prongs domestically. One prong is our cylinder exchange program, another is our strategic accounts program, and the third is our base business. We certainly are going to grow next year is our belief but it’s going to be very modest growth in the US. It’s not an area where we have high expectations for growth but I will tell you growing modestly in the environment that we face with virtually no new housing market, very difficult economic circumstances in the US and in particular in the Midwest and Upper Midwest would be a very nice achievement in the current environment.
Internationally we also expect very modest growth in I would say France. They too are facing similar issues that we face here. A little bit better growth probably in Eastern Europe. Those economies are still growing although we expect those economies to slow through the ripple effects as we go forward.
On balance I guess the answer is I could have shortcut all that by saying very, very modest growth in both international and the US.
Analyst for Faisel Khan - Citigroup
With regard to your revolver, what’s the total revolver, when does it mature and how much of it is currently available?
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