text_combined: enron mentions usa enron shares stay doldrums downgrade reuters english news service 10 29 01 usa us companies credit quality worsen moody reuters english news service 10 29 01 enron lenders demand harsher terms analysts say updatel bloomberg 10 29 01 usa enron shares drop despite triage attempts reuters english news service 10 29 01 usa enron says talks banks new credit line reuters english news service 10 29 01 usa update 1 enron says talks banks new credit line reuters english news service 10 29 01 power points enron may rethink asset light focus dow jones energy service 10 29 01 official correction enron long term ratings downgraded baa 2 moody afx news 10 29 01 usa moody cuts enron 2 notches junk reuters english news service 10 29 01 uk europe energy firms wary enron credit worries reuters english news service 10 29 01 bandwidth beat enron puts spotlight back broadband dow jones energy service 10 29 01 usa enron shares stay doldrums downgrade 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters enron corp share price hovered seven year lows touched earlier trade monday moody investor service cut credit status senior unsecured debt north america largest energy trader two ratings junk status enron largest electricity natural gas trader north america also monday said talks banks expand credit lines ease financial concerns sent stock slumping 50 percent past two weeks enron shares 1 40 9 03 percent 14 10 new york stock exchange earlier session trading 14 first time since december 1994 moody also warned could cut debt rating downgraded baa 2 well rating enron commercial paper enron credit worthiness direct affect day day trading operations trading partners perception making good trades credit rating hovering junk status cost business soar trading partners look increased collateral back trades last week enron shares lost almost 14 billion market value series piecemeal disclosures company involvement complex partnerships began trickle investors fled enron stock droves following disclosures company balance sheet transactions two limited partnerships run former chief financial officer andrew fastow deals u securities exchange commission looking possible conflict interest enron compensated partners balance sheet structure promise enron shares value private investments several units fell certain level many industry observers see enron request additional credit company tapped banks 3 3 billion last week sign weakness opinion drawing one backup bank lines demonstration financial strength instead act desperation said carol levenson analyst independent research firm gimmecredit com copyright 2000 dow jones company inc rights reserved usa us companies credit quality worsen moody jonathan stempel 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters u corporate credit quality likely grow much worse gets better leading credit rating agency said report issued monday moody investors service said third quarter put review downgrade credit ratings 122 u companies time put review upgrade ratings 22 companies 5 5 1 ratio far greater 1 3 1 ratio second quarter dollar terms situation looks dire moody warned may downgrade 543 billion debt dwarfing 66 billion moody said may upgrade 8 2 1 particularly light september 11 fourth quarter particularly weak credit rating changes said john puchalla moody senior economist wide excess rating reviews downgrade upgrades third quarter suggests credit deterioration persist least early next year rating reviews significant unlike actual rating changes lagging indicator suggest future direction corporate credit moody normally wraps reviews within three months u corporate credit quality falling many reasons include weakening u economy inability marginal companies raise cash debt financed merger activity fallout sept 11 attacks industries airlines insurance travel example moody july warned may cut comcast corp ratings philadelphia based company bid 44 5 billion corp cable tv operations last month moody warned may cut chicago based boeing co ratings attacks potential impact demand commercial airplanes third quarter moody warned may cut ratings 54 speculative grade junk rated companies raise ratings 11 investment grade companies gap even yawning 68 11 fourth quarter friday moody warned may downgrade 47 companies raise mere four monday downgraded embattled energy trading giant enron corp put ratings review another downgrade puchalla however said decline could slow next year part interest rates low companies managing balance sheets conservatively lower borrowing costs slowing debt growth reduce debt servicing costs fiscal stimulus federal government boost business revenues said positive credit quality third quarter 14 th row corporate rating downgrades outpaced upgrades record 19 quarters set 1988 1993 copyright 2000 dow jones company inc rights reserved enron lenders demand harsher terms analysts say updatel 2001 10 29 12 16 new york enron lenders demand harsher terms analysts say updatel updates analyst comment fifth paragraph houston oct 29 bloomberg enron corp get low interest short term loans faces skeptical lenders demand increasingly harsher terms largest energy trader tries get cash bank credit analysts said anyone providing new funding going nervous said sean egan managing director egan jones ratings co likely lenders going demand collateral enron trying get 1 billion 2 billion loans citigroup inc j p morgan chase co banks calm investors 52 percent drop company stock since oct 17 wall street journal reported company needs cash every day settle commodities transactions keep trading partners company thursday tapped 3 3 billion bank credit lines last week pay 2 billion commercial paper short term corporate loans week ago enron said u securities exchange commission began inquiry related party transactions cost company 35 million 1 2 billion lost shareholder equity banks driver seat enron little desperate said peter petas debt analyst creditsights inc think interest rates loans would go sells assets cash companies enron situation often agree bank terms order secure loans petas said include agreeing use proceeds selling assets pay debt putting assets collateral enron attempting sell assets raise cash two related partnerships osprey marlin depend selling power plants similar assets repay 3 3 billion borrowed buy plants enron may pay difference debt sales proceeds company plans complete 2 9 billion sale portland general electric oregon utility northwest natural gas co next year shares houston based enron fell 1 30 8 4 percent 14 10 midday trading earlier touched 13 55 12 percent company credit rating cut moody investors service wrote value assets stock tumbled 80 percent past 12 months russell hubbard princeton newsroom 609 750 4651 usa enron shares drop despite triage attempts 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters enron shares slipped new six year low early trade north america largest natural gas electricity trader said talking banks tapping additional credit lines ease financial concerns sent stock slumping 50 percent past two weeks enron shares trading 90 cents 5 8 percent 14 60 early morning trade new york stock exchange shares crashed 15 low seen since february 1995 last week enron shed almost 14 billion market value stock price tumbled half since last week series piecemeal disclosures involvement complex partnerships began trickle however many industry observers see enron request additional credit tapping banks 3 3 billion last week sign weakness strength opinion drawing one backup bank lines demonstration financial strength instead act desperation said carole levenson research analyst independent research firm gimmecredit com copyright 2000 dow jones company inc rights reserved usa enron says talks banks new credit line 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters energy trading giant enron corp said monday talks banks additional credit move shore investor confidence enron declined comment size credit line banks talks expects complete agreement new credit line want restore investor market confidence nothing instills confidence like cash said enron spokesman mark palmer wall street journal reported monday beleaguered energy trader negotiation bank new credit line 1 billion 2 billion prop share prices following last week selling sent shares plummeting enron said drew 3 billion new credit lines last week net cash liquid position excess 1 billion enron shares sank 50 cents 3 2 percent 15 early morning trade new york stock exchange david howard sinkman new york newsdesk 646 223 6094 copyright 2000 dow jones company inc rights reserved usa update 1 enron says talks banks new credit line 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters energy trading giant enron corp said monday talks banks additional credit new move shore investor confidence tapped 3 billion credit last week stop plunge company stock set new six year lows enron declined comment size credit line banks talks expects complete agreement new credit line enron shares crashed psychological barrier 15 share shedding 1 66 10 65 percent 13 85 early morning trade new york stock exchange stock lost half value past two weeks losing 14 billion market capitalization want restore investor market confidence nothing instills confidence like cash said enron spokesman mark palmer houston enron shares tumbled since company reported first quarterly loss four years oct 16 company also wrote 1 2 billion equity including transactions partnerships formerly run chief financial officer forced step enron last week sell sparked investor concern transparency transactions securities exchange commission examining enron last week replaced cfo andrew fastow part efforts restore investor confidence wall street journal reported monday beleaguered energy trader negotiation bank new credit line 1 billion 2 billion prop share prices following last week selling sent shares plummeting enron said drew 3 billion new credit lines last week net cash liquid position excess 1 billion clearly stock bond market view enron dire straits said independent research firm gim credit analyst carol levenson opinion drawing one backup bank lines demonstration financial strength instead act desperation copyright 2000 dow jones company inc rights reserved power points enron may rethink asset light focus mark golden 10 29 2001 dow jones energy service copyright c 2001 dow jones company inc dow jones newswires column new york dow jones face things hard understand stock market headspinning reaction enron corp ene revelation bad news recent weeks talk death spiral north america premier energy trading company stock price cisco systems inc csco example saw almost identical drop similar 12 month period nobody questioned viability cisco difference past years enron redefined company runs financial intellectual muscle hard assets focus getting company trouble credibility question buying network components probably stand ambiguity finances supplier buying something touch buying power gas really buying commitment deliver supplier come market gets tough left totally exposed enron energy trading business credibility every level critical enron looks viable company asset light strategy might gross profits trading shrunk 1 65 third quarter 5 26 first quarter 1998 meanwhile asset heavy energy companies like mirant corp mir calpine corp cpn successfully use trading optimize performance power plants infrastructure two weeks ago enron reported 618 million third quarter loss resulting 1 01 billion write offs send investors running however fact stock price rose bit news hurt disclosure enron reduced net assets shareholders equity 1 2 billion consequence unwinding positions partnerships headed former chief financial officer andrew fastow along warnings possible downgrades credit ratings agencies inquiry securities 201 938 4604 mark golden dowjones com copyright 2000 dow jones company inc rights reserved official correction enron long term ratings downgraded baa 2 moody 10 29 2001 afx news c 2001 afp extel news ltd moody corrected stance enron ratings downgrade new york afx moody investors service said lowered senior unsecured long term debt ratings enron corp baal baa 2 following deterioration enron financial flexibility since company announced significant writedowns well equity charges previously undisclosed partnership investments long term debt ratings remain review downgrade moody said moody also placed company prime 2 rating commercial paper review downgrade moody initially placed enron long term debt ratings review oct 16 write downs equity charges led substantial loss investor confidence led halving enron share price difficulties rolling commercial paper according moody response events moody said enron shored near term liquidity position drawing committed revolving credit facilities buying back outstanding commercial paper leaving company net cash position approximately 1 2 bln usd moody said plans focus management success lining liquidity support ability retain credit availability major counterparties aw gc information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved usa moody cuts enron 2 notches junk 10 29 2001 reuters english news service c reuters limited 2001 new york oct 29 reuters moody investors service monday cut embattled energy trading giant enron corp senior unsecured debt rating two notches junk status warned may cut rating well rating enron commercial paper rating agency cut houston based enron senior unsecured debt baa 2 baal said may cut enron prime 2 commercial paper rating affects short term debt rating actions affect 13 billion moody said enron suffering deteriorating financial flexibility since announced big write downs equity charges previously undisclosed partnership investments month triggered difficulties rolling commercial paper moody said enron 63 4 billion energy assets said monday talking banks get credit last week drawing 3 billion bank credit line buy back outstanding commercial paper shares traded monday new york stock exchange 13 75 1 75 11 3 percent fallen 62 percent since oct 12 35 81 rating agency standard poor thursday revised outlook enron ratings negative stable copyright 2000 dow jones company inc rights reserved uk europe energy firms wary enron credit worries stuart penson 10 29 2001 reuters english news service c reuters limited 2001 london oct 29 reuters energy companies europe shying away trading troubled u energy group enron amid concerns company credit status industry sources said monday several large energy groups frozen dealings enron one europe biggest gas power traders hold urgent talks u group setting new credit arrangements sources said think enron approach get major counterparties back board quickly possible hope smaller ones follow said head risk management one uk utility halted trade enron last week talking us bank letters credit said people still trading restrictive basis spokesman enron european headquarters london headquarters declined comment reluctance trade enron europe comes company tries rebuild investor confidence stock hit five year lows triggering slide news last week u securities exchange commission investigating huge losses relating private equity operation run former chief financial officer houston based enron trades large amount volume u europe internet enrononline system last friday company said trade enrononline average levels 8 400 transactions notional value approximately 4 billion traders said enron plight could hit liquidity european gas power markets liberalisation unleashed rapid growth energy trading last couple years one industry source cited brokers list showing eight companies uk electricity market put hold trading enron among biggest five traders market mainland europe enron major driver liquidity potential counterparties treading care avoiding counterparties either trading using sleeve third party trader said senior trader one germany big utilities declined named french traders said wariness dealing enron dampened liquidity although enron still market monday morning enron major player counter parties looking see problem said one french trader copyright 2000 dow jones company inc rights reserved bandwidth beat enron puts spotlight back broadband michael rieke 10 29 2001 dow jones energy service copyright c 2001 dow jones company inc dow jones newswires column houston dow jones thanks enron corp ene broadband sector looks like place make money traders cash new potential class action attorneys already lining sue enron least five shareholder suits oct 25 two lawsuits filed enron federal court three texas state court name defendants ken lay enron longtime chairman former chief executive jeff skilling andrew fastow enron chief financial officer put leave absence oct 25 still another suit class action suit filed naming defendants members enron board directors lawsuits concentrate private investment partnerships enron set many managed fastow suits contend conflict interest fastow partnerships complicated hedging transactions enron transactions named lawsuits involved billions dollars underperforming assets broadband water enron investments fastow operated sides transactions enron chief financial officer paid manage corporation finances general partner two ljm partnerships managed counterparties billions dollars trades enron shared profits partnerships investors began demanding information transactions enron share price began slide heat enron recently unwound trades partnerships booked 544 million related losses early termination deals among things class action attorneys went work far least 14 law firms representing plaintiffs enron respond calls asking lawsuits among law firms representing plaintiffs milberg weiss bershad hynes lerach put news release announcing lawsuit release points firm responsible recovering 30 billion class action lawsuits lawsuits bring questions bandwidth trading market deals ljm partnerships run fastow purportedly involved hedging transactions broadband market according abrams franks v enron et al could tie questions lingered bandwidth market months market skeptics said enron energy companies ones trading bandwidth enron reported trading growing number counterparties total 120 second quarter year according enron market watchers want know enron trades done ljm partnerships managed fastow also want know many bandwidth trades done chewco investments houston company according report wall street journal managed michael kopper set 1997 kopper managing director enron global equity markets group left enron earlier year work partnerships run fastow plaintiffs attorneys know whether enron trading bandwidth investment partnerships think early tell thomas bilek hoeffner 713 547 9207 michael rieke dowjones com copyright 2000 dow jones company inc rights reserved