Message-ID: <17865377.1075841609203.JavaMail.evans@thyme> Date: Tue, 20 Nov 2001 08:25:54 -0800 (PST) From: j..sturm@enron.com To: s..shively@enron.com Subject: FW: Enron sees cash drain, warns on survival Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Sturm, Fletcher J. X-To: Shively, Hunter S. X-cc: X-bcc: X-Folder: \ExMerge - Sturm, Fletcher J.\Sent Items X-Origin: STURM-F X-FileName: fletcher sturm 6-26-02.PST -----Original Message----- From: Philip, Willis Sent: Tuesday, November 20, 2001 7:18 AM To: Sturm, Fletcher J.; Benson, Robert; Presto, Kevin M. Subject: Enron sees cash drain, warns on survival 04:33 20Nov2001 RSF-Platt's: Enron sees cash drain, warns on survival New York (Platts)--20Nov2001/533 am EST/1033 GMT Enron filed Q3 financials late Monday, revealing a huge cash drain, despite last week's $1.5-bil asset-backed infusion from merger partner Dynegy. Enron said its cash Friday had fallen to $1.2-bil, even with the Dynegy payment three days earlier, $550-mil drawn on a new bank line last week and $3-bil drawn on existing lines earlier this month to pay off $1.9-bil of commercial paper. Enron blamed operating costs, trade settlements and collateral deposits paid to trading partners. Enron said it expects $800-mil soon from asset sales and got another $440-mil bank line Monday. But it warned it might not be enough to keep its investment-grade credit rating or restructure debt coming due. That could have a "material adverse impact on Enron's ability to continue as a going concern," it warned. For Related News, Double Click on one of these codes: [nPL2779110] [CRU] [ENE.N] [US] [PGF] [MRG] [ELG] [NGS] [PLTN] [LEN] [CRU] [ENE] [US] Tuesday, 20 November 2001 04:33:58 RSF [Historical News] {C} ENDS Willis Philip Enron Wholesale Services East Power Trading (713) 853-0961