text_combined: enron mentions analysts fear sec enron probe formal may widen dow jones energy service 11 01 01 usa gas dow jones energy service 11 01 01 competing exchanges gain slim advantage enron woes dow jones energy service 11 01 01 usa update 2 enron 1 billion credit line mixed blessing reuters english news service 11 01 01 usa light profit taking pushes nymex natgas midday reuters english news service 11 01 01 enron corp credit rating lowered bbb p updatel bloomberg 11 01 01 enron gets 1 bln loan bolster cash credit rating update 8 bloomberg 11 01 01 enron falls sec steps probe cbsmarketwatch com 11 01 01 analysts fear sec enron probe formal may widen jason leopold jessica berthold dow jones newswires 11 01 2001 dow jones energy service copyright c 2001 dow jones company inc los angeles dow jones enron corp ene disclosure formal inquiry partnerships former chief financial officer left wall street analysts concerned thursday probe could spill company core business placing pressure company stock analysts said doubted investigation u securities exchange commission would spread added uncertainty weighing enron share price huge cloud uncertainty said merrill lynch analyst steve fleishman speculate breadth investigation enron said late wednesday sec elevated formal investigation inquiry certain matters subject recent press reports sec matter policy declined comment status scope inquiry enron spokeswoman karen denne said understanding formal investigation like informal inquiry would limited partnerships enron fully cooperating sec said robert christensen analyst fac equities new york said concerned sec could use subpoena power start probing enron natural gas trading practices hoping localized partnership andy fastow deals truly partnership opposed wandering basic interest enron wholesale trading christensen said enron former chief financial officer andrew fastow set complicated vehicles invest hedge enron assets last month enron disclosed 1 2 billion writedown shareholder equity third quarter related transactions carried entities setting 65 drop value company stock past two weeks investors already pricing possibility sec investigation reveal bad news christensen said limited partnership activities caused 1 2 billion evaporate equity line would well received said think stock price reflecting concerns something greater behind wood pile partnerships thursday afternoon enron shares 1 90 14 12 shares lost two thirds value past two weeks gary hoves analyst argus research new york said enron shares continue trade lower news sec inquiry serious situation especially since investigation moved forth worth washington c hoves said hard say guess open book investigation go whole lot stuff beyond partnership copyright 2000 dow jones company inc rights reserved usa p cuts enron ratings may cut ratings 11 01 2001 reuters english news service c reuters limited 2001 new york nov 1 reuters standard poor thursday cut long short term ratings embattled energy trader enron corp warned may cut ratings uncertainties surrounding company possibility problems capital markets enron said faces probe securities exchange commission p cut houston based company senior unsecured debt bbb two notches junk status bbb plus commercial paper 3 2 monday moody cut enron long term debt baa 2 also two notches junk warned may cut rating enron prime 2 commercial paper rating downgrades could make tougher enron issue debt run day day business fellow marketers traders demand collateral ratings fall junk enron could forced issue shares enron shares closed thursday new york stock exchange 11 99 1 91 13 7 percent fallen 65 percent since october 16 hit nine year low tuesday copyright 2000 dow jones company inc rights reserved key north american power gas firms stand enron mark golden dow jones newswires 11 01 2001 dow jones news service copyright c 2001 dow jones 201 938 4604 mark golden dowjones com kristen mcnamara new york john edmiston houston contributed article copyright 2000 dow jones gas mark golden dow jones newswires 11 01 2001 dow jones energy service copyright c 2001 dow jones aquila energy ila bp amoco plc bp deutshe bank ag g dbk el paso corp epg goldman sachs group gs morgan stanley dean witter reliant energy rei royal dutch shell group rd societe generale sa f sgf unit sg investment banking mirant corp mir totalfina elf sa tot mark golden dow jones newswires 201 938 4604 mark golden dowjones com copyright 2000 dow jones company inc rights reserved competing exchanges gain slim advantage enron woes stephen parker dow jones newswires 11 01 2001 dow jones energy service copyright c 2001 dow jones company inc new york dow jones competing online energy marketplaces may see gains enron corp ene struggles concerns credit energy analysts traders say houston based giant problems yet serious enough outweigh liquidity provides expect internet based trading system enrononline retain leading position electricity natural gas markets many products eol exchange behind said charlie sanchez energy markets manager gelber 201 938 4426 stephen parker dowjones com kristen mcnamara mark golden jon kamp contributed article copyright 2000 dow jones company inc rights reserved usa update 2 enron 1 billion credit line mixed blessing janet mcgurty 11 01 2001 reuters english news service c reuters limited 2001 new york nov 1 reuters enron corp thursday said gained 1 billion secured credit lines help support day day trading operations bolster investor confidence beleaguered energy trading giant analysts said credit mixed blessing former wall street high flyer facing full scale probe u regulators questionable financial dealings almost daily revelations rocked enron past two weeks sent stock price plummeting 60 percent ultimate outcome underlying fundamentals aside believe significant pressure uncertainty remain enron investigation concludes said donato eassey merrill lynch lowered rating enron stock neutral accumulate earlier thursday secured credit enron case credit lines backed gas pipeline assets often reserved companies junk credit ratings though many analysts saw credit positive enron shares enron continued freefall despite company announcement new credit lines securities exchange commission said late wednesday would make informal inquiry company full scale investigation enron lost 1 35 9 7 percent 12 55 resuming tailspin began oct 16 company announced taking 1 01 billion charges ill fated investments enron said investment banking arm j p morgan chase co salomon smith barney inc brokerage investment banking unit citigroup inc agreed provide 1 billion credit lines backed enron northern natural gas co transwestern pipeline co assets positive step analysts said difficult gauge downside sec probe enron began request information became full fledged investigation provides regulators ability subpoena company documents analysts said general economic environment sept 11 tightened lending restrictions secured issue ominous positive step surrounded uncertainty sec probe finalized go business assuming everything board come conflict interest sec probe probably result fine significant slap wrist said raymond moore weatherly securities see possible buying opportunity stock price gets low double digits might change rating said mike heim analyst g edwards rates enron hold speculative decision raise rating shares dipped 12 reflects concerns enron problems may affecting trading operations enron said credit lines used supplement short term liquidity refinance maturing obligations augment 1 billion company cash hand commitments subject customary terms conditions including final due diligence company said yet another step efforts enhance market investor confidence said jeffrey mcmahon enron new chief financial officer moving aggressively strengthen balance sheet maintain investment grade credit rating copyright 2000 dow jones company inc rights reserved usa light profit taking pushes nymex natgas midday 11 01 2001 reuters english news service c reuters limited 2001 san francisco nov 1 reuters nymex hub gas touch lower thin trade midday thursday pressured gentle profit taking market sources said 12 30 p est december 2 1 cents 3 27 per million british thermal units mmbtu changing hands 3 19 3 31 january 2 8 cents lower 3 40 months 3 3 cents 5 8 cents taking profits weather spotty thing going sustain uptrend think already overdone early sustained winter one northeast trader said adding ample gas supplies would also limit upside traders said believed part recent run gas prices due steady spate short covering recent days enron whose share price hammered series disclosures balance sheet deals partnerships run former chief financial officer moody investors service cut enron credit rating monday two notches junk status warned could lower rating company senior unsecured debt even well cut enron short term debt status enron one largest traders wholesale natural gas electricity united states many dealers said bit surprised larger expected build weekly aga inventory data released wednesday aga data showed u gas stocks rose last week 23 bcf reuters survey estimates 35 40 bcf build well year ago gain 70 bcf five year average injection week 35 bcf total inventories 3 090 tcf still 378 bcf 14 percent last year 237 bcf five year average traders said producing region may selling cheaper baseload gas spot market cash steep premium index storage stands 94 percent full could still climb record 3 13 tcf week last week stock building season traders said despite wednesday late spike many traders remained skeptical upside citing concerns record levels gas inventory winter sagging demand due slowing u economy said recent talk terror attacks u created uncertainty market could limit selling terms heating degree days hdds national oceanic atmospheric administration noaa said expected 87 hdds week 2 normal noaa also forecasted 5 cdds week 1 normal national weather service 6 10 day forecast released wednesday called normal temperatures nation except east parts west seasonal seasonal readings expected noaa recently issued winter weather outlook calling colder normal temperatures northeast upper midwest plains states possibility heavy snow midwest along east coast chart watchers said technical picture turned bullish last week december gap 3 252 filled trendline april broken agreed upside may limited near term milder late week weather forecasts pegged december resistance wednesday high 3 44 selling expected 3 76 august high 4 10 psychological support seen 3 00 area support also last week low 2 77 trendline low 2 70 buying expected 2 66 2 67 2 60 area october low 2 535 contract low 2 415 cash today henry hub swing quotes average slipped 7 cents 3 00 area midwest pipes 5 10 cents mid 2 80 west gas waha hub west texas 10 cents lower mid 2 80 swing gas transco new york city gate skidded 20 cents mid 3 30 chicago around 10 15 cents lower near 3 10 nymex said estimated 16 414 henry hub contracts traded 11 40 est henry hub open interest oct 31 eased 129 lots 457 861 nymex holding abbreviated floor trading sessions following sept 11 attacks world trade center nymex gas open outcry trade run 10 00 2 30 p internet based access session held 3 15 p 9 00 dec 31 copyright 2000 dow jones company inc rights reserved enron corp credit rating lowered bbb p updatel 2001 11 01 17 04 new york adds additional information rating cut beginning first paragraph new york nov 1 bloomberg enron corp long term credit rating cut bbb second lowest investment grade bbb standard poor energy trader short term debt rating cut 3 lowest investment grade 2 p said cuts possible rating company said report think enron plan repair balance sheet asset sales means able restore enron credit quality bbb level since 1995 said enron diminishing financial flexibility stems inability calm investors unsure strength enron core business plan restore credit profile p said enron adequate liquidity see current period uncertainty ratings enron subsidiaries transwestern pipeline co northern natural gas lowered bbb bring line parent company ratings enron 15 8 billion debt outstanding according bloomberg data enron gets 1 bln loan bolster cash credit rating update 8 2001 11 01 16 59 new york enron gets 1 bln loan bolster cash credit rating update 8 adds p credit rating downgrade fourth paragraph houston nov 1 bloomberg enron corp largest energy trader received 1 billion loan j p morgan chase co salomon smith barney inc agreeing use company natural gas pipelines collateral enron shares fell 14 percent day u securities exchange commission began formally investigating partnerships run former chief financial officer pledging pipelines signals enron desperation convince shareholders trading partners creditworthy investors said reassuring worrisome said donald coxe manager harris insight equity fund owns 78 000 enron shares secure loan obviously lenders think rely enron financial statements u markets closed standard poor cut enron long term credit rating bbb second lowest investment grade bbb energy trader short term debt rating cut 3 lowest investment grade 2 sec investigating partnerships run former cfo andrew fastow bought sold enron shares assets trades cost enron 35 million 1 2 billion lost shareholder equity questions enron dealings partnerships shut commercial paper markets large corporations go find low interest short term debt last friday enron tapped 3 billion credit line pay 2 2 billion commercial paper outstanding proceeds 1 billion secured loan go debt payments supplement cash reserves enron said business enron get 1 billion loan enron pledged assets northern natural gas co transwestern pipeline co gas pipeline systems combined 19 000 miles long deliver much 6 billion cubic feet gas day enron based houston got start natural gas pipeline operator past decade company shed assets pipelines power plants focused trading electricity gas wood pulp commodities enron accounts quarter u power gas trades company still 25 000 miles gas pipeline mortgaging lines maybe good signal said roger hamilton manages john hancock value funds owns 600 000 enron shares shows convince banks anything secured assets shares enron fell 1 91 11 99 earlier dropped 11 70 stock fallen 86 percent year enron 6 4 percent coupon notes due 2006 fell 3 cents today bid 74 cents dollar offered 77 cents traders said last week notes trading near par value credit rating enron must investment grade credit borrow enough settle transactions daily energy companies including exelon corp northeast utilities restricted business enron company sought new sources credit monday moody investors service lowered enron long term credit rating baa 2 baal two notches junk status also placed company p 2 rating commercial paper review possible downgrade standard poor said downgrading enron credit rating today company enough liquidity see current period uncertainty still p said enron financial flexibility continued diminish inability calm investors unsure strength enron core energy marketing business falling investment grade would trigger early repayment terms affiliated companies ones created fastow lower credit rating also reduces amount cash enron raise back trading business investor confidence financing enhance market investor confidence enron chief financial officer jeffrey mcmahon said statement enron borrow another 200 million bringing banks loan spokeswoman karen denne said plans point said moving aggressively strengthen balance sheet maintain investment grade credit rating mcmahon said mcmahon head enron industrial markets group named cfo last week fastow ousted attempt restore investor confidence seems know sec investigation going difficult time stock said tara gately energy analyst loomis sayles co sold enron shares early last year j p morgan advising enron sale part azurix north america water business american water works inc 148 8 million cash assumed debt salomon smith barney investment banking arm citigroup inc enron falls sec steps probe cbsmarketwatch com 11 01 01 houston cbs mw enron shares fell 11 th time 12 sessions thursday energy merchant said securities exchange commission launched formal investigation two limited partnerships late wednesday nation largest natural gas power trader said retained william mclucas partner washington c based firm wilmer cutler pickering former sec enforcement chief counsel mclucas works firm stephen cutler sec named cutler enforcement division chief oct 25 giving oversight program c 11 regional district offices across country according sec press release cutler specialized securities enforcement litigation partner wilmer cutler pickering howard meyers partner new york city based law firm meyers heim former staff attorney sec northeast regional office said mclucas cutler connection could give appearance conflict interest whether know said actual conflict want give appearance one sec substantial regulatory agency public confidence new enforcement chief cutler duty remove potential conflicts meyers said generally speaking like see someone little removed preexisting relationships said conflict enron says karen denne enron spokesperson said enron satisfied wilmer cutler conflict sec speak issue said cutler left wilmer cutler three years ago severed contacts know commission conducts investigations non public basis thus confirm deny existence investigation may may taking place said michael robinson sec spokesperson applicable government wide ethics rules required mr cutler recuse matters involving wilmer cutler one year following departure firm additionally robinson said sec ethics office confirmed mr cutler involvement matters wilmer cutler plays role entirely consistent applicable government wide conflict rules well ethics rules applicable attorneys enron shares closed 11 99 1 91 14 percent session end 30 million shares changed hands enron also said formed special committee headed university texas law school dean william powers deal sec john gavin president plymouth minn based sec insight said despite public assurances contrary enron announcements wednesday make apparent company decided longer interest cooperate sec formal investigation sec must use subpoena power compel production documents witnesses assembly high powered legal team evidence company digging fight said initially sec decided pursue informal inquiry related party transactions involving company sec making formal investigation agency would investigate whether company disclosed required regard related party transactions meyers said adding important factor case transition formal investigation sec exercise subpoena power disclosure highly important determine whether investor buys stock company added existence two limited partnerships came light stock plunged sec might take look auditors enron certainly sec take action officers company meyers said officer signs 10 qs 10 ks could liable merrill lynch analyst donato eassey downgraded enron thursday neutral accumulate buy citing uncertainty outcome sec investigation believe timing directional uncertainty new development best cap enron stock price mid teen increasing overall volatility eassey wrote note clients investigation way stock concludes timing uncertain could feasibly take months secures 1 billion credit enron also said secured 1 billion additional financing j p morgan salomon smith barney new credit supported assets enron northern natural gas co transwestern pipeline help enron shore liquidity position moving aggressively strengthen balance sheet maintain investment grade rating said chief financial officer jeffrey mcmahon statement lisa sanders dallas based reporter cbs marketwatch com