Message-ID: <22360809.1075861635048.JavaMail.evans@thyme>
Date: Tue, 20 Nov 2001 13:08:43 -0800 (PST)
From: harry.kingerski@enron.com
To: don.black@enron.com, teresa.mihalik@enron.com, joseph.des@enron.com
Subject: Peoples Gas - IL
Cc: d..steffes@enron.com, gloria.ogenyi@enron.com
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Peoples Gas has backed down from their request for a letter of credit to provide "Adequate Assurances of Payment", as stated in their tariff.  They will continue to accept a parental guaranty, which is due no later than December 3 (and which Teresa says is being processed).  The amount at issue is about $40k.

However, they are sending me a letter that will say, if there is any further downgrade in our rating, they will immediately require a l/c or cash deposit.