Message-ID: <23512197.1075860877185.JavaMail.evans@thyme>
Date: Thu, 28 Feb 2002 07:18:47 -0800 (PST)
From: eric.gadd@enron.com
To: kevin.hyatt@enron.com
Subject: Sun Devil - project model
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Kevin,

With respect to James' latest economic analysis, ($843 MM capx; 550,000/d firm contracts to Phoenix; 60/40 debt/equity, 4.75% fuel in years 1/2/3, tracker thereafter) for each year of the project, I'd like to see-

Fianancial statements for each year
- Income statement
- Balance sheet
- Funds flow

Financial ratios for each year during the 20 year contract term
- Debt to capitalization
- Debt Equity
- Debt to Asset
- Times Interest Earned
- Debt Service Coverage

Amount of unrecovered debt and equity at the end of the 20 year contracts, 

Distributable cash for each year - - - depending how much there is, we could lock it up to pay off debt