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,

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 <COMPANY> A+/A0 and above <CUR><NUMBER> <CUR><NUMBER> A, A-, A0, or A0 <CUR><NUMBER> <CUR><NUMBER> BBB+, BBB, Baa0 or Baa0 <CUR><NUMBER> <CUR><NUMBER> BBB- or Baa0 <CUR><NUMBER> <CUR><NUMBER> Below BBB- or Baa0 <CUR><NUMBER> <CUR><NUMBER> I am trying to set parameters which give ConEd the credit that it deserves as an A+ regulated utility and <COMPANY> 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,
moody ratings lower review following proposed isda collateral threshold business profiles reply comments questions trying deserves regulated utility credit lines proceed set parameters coned