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Consolidated Edison Company of New York / Enron North America Corp  - Proposed Credit Terms
Please review the following proposed outline of the credit lines for the proposed ISDA. Collateral Threshold (tied to S&P and Moody ratings, lower of):	  	 					ConEd		Enron 	A+/A1 and above		$75,000,000	$60,000,000 	A, A-, A2, or A3			$60,000,000	$55,000,000 	BBB+, BBB, Baa1 or Baa2	$25,000,000	$50,000,000 	BBB- or Baa3			$5,000,000	$15,000,000 	Below BBB- or Baa3		$0		$0  I am trying to set parameters which give ConEd the credit that it deserves as an A+ regulated utility and Enron the credit it warrants as a BBB+ energy marketer. Given the different business profiles of our companies, I don't believe that the application of parity should be practiced with regards to setting credit lines. I think you would agree to this approach when looking at other market players, such as banks, municipalities, etc. I hope we can come to agreement on the proposed credit lines, so that we can proceed with the negotiations of the ISDA. Please call or reply with any comments or questions. Regards,
Skriv ett mail med följande ämne: Consolidated Edison Company of New York / Enron North America Corp - Förslag till kreditvillkor
Write an email with the following subject: Consolidated Edison Company of New York / Enron North America Corp - Suggestions for credit terms
Se över följande förslag till kreditramar för den föreslagna ISDA. Säkerhet Tröskelvärde (bundet till S&P och Moody ratings, lägre av): ConEd Enron A+/A1 och högre $75.000.000 $60.000.000 A, A-, A2 eller A3 $60.000.000 $55.000.000 BBB+, BBB, Baa1 eller Baa2 $25.000.000 $50.000.000 BBB- eller Baa3 $5.000.000 $15.000.000 Nedan BBB- eller Baa3 $0 $0 Jag försöker att ställa parametrar som ger ConEd krediten som det förtjänar som en A+ reglerad nytta och Enron kredit det garanterar som en BBB+ energi marknadsförare. Med tanke på våra företags olika affärsprofiler anser jag inte att tillämpningen av paritet bör tillämpas när det gäller att fastställa kreditlimiter. Jag tror att ni skulle gå med på detta när ni tittar på andra marknadsaktörer, såsom banker, kommuner etc. Jag hoppas att vi kan komma överens om de föreslagna kreditramarna, så att vi kan fortsätta förhandlingarna om ISDA. Ring eller svara med eventuella kommentarer eller frågor. Hälsningar,
Review the following credit line proposals for the proposed ISDA. Security Threshold (bound to S&P and Moody ratings, lower by): ConEd Enron A+/A1 and higher $75,000,000 $60,000,000 A, A-, A2 or A3 $60,000,000 $55,000,000 BBB+, BBB, Baa1 or Baa2 $25,000,000 $50,000,000 BBB- or Baa3 $5,000,000 $15,000,000 Below BBB- or Baa3 $0 $0 I try to set parameters that provide ConEd the credit it deserves as an A+ regulated benefit and Enron credit it guarantees as a BBB+ energy marketer. Given the different business profiles of our companies, I do not believe that the application of parity should apply to the setting of credit limits. I think you would agree to this when you look at other market players, such as banks, municipalities, etc. I hope that we can agree on the proposed credit framework so that we can continue negotiations on ISDA. Call or answer with any comments or questions. Greetings,