Enron Mail |
We need to repsond to this. Tanya- can you confirm the lend and park exposure.
Steph - please print and add to the list. -----Original Message----- From: "Foley, Jack" <JRFc@pge.com<@ENRON Sent: Friday, November 16, 2001 4:34 PM To: Bradford, William S. Cc: Sena, David; Frederickson, Mike Subject: Enron North America Bill, As mentioned during our conference call this morning, we have significant Lend and Park activity with ENA (and some activity with Enron Energy Services). Potential stressed net exposure peaks at $ 12.4 million in April ' 02. Due to the recent downgrades of Enron Corp.'s (Guarantor of ENA's obligations to PG&E) senior unsecured debt rating to BBB- by S&P and other rating agencies, we respectfully request that Enron North America provide PG&E with a Standby Irrevocable Letter of Credit in the amount of $ 6.5 million expiring no earlier than October 30, 2002. This request is made under the provisions of PG&E's Gas Rule 25 (Gas Services-Customer Creditworthiness and Payment Terms). I would appreciate your letting me know when the L/C will be issued. Thanks Jack Foley Credit Risk Management 415/973-0004
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