Message-ID: <24914065.1075839995569.JavaMail.evans@thyme>
Date: Mon, 29 Oct 2001 12:48:02 -0800 (PST)
From: bill.williams@enron.com
To: bill.williams@enron.com
Subject: FW: Downgrade!
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X-From: Williams III, Bill </O=ENRON/OU=NA/CN=RECIPIENTS/CN=BWILLIA5>
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Just talked with Kochel. He was expecting a bounce in our stock on funds co=
vering their shorts. I don't know if I agree after this.

Bill

 -----Original Message-----
From: =09Porter, David V. =20
Sent:=09Monday, October 29, 2001 8:40 AM
To:=09Slinger, Ryan; Williams III, Bill
Subject:=09Downgrade!

=09Top Financial News    10/29 11:09 Enron Credit Rating Cut by Moody's; CP=
 Rating on Review By Mark Pittman  New York, Oct. 29 (Bloomberg) -- Enron C=
orp.'s credit rating was cut by Moody's Investors Service after the largest=
 energy trader's shares fell by almost half last week. Moody's also said it=
 may downgrade Enron's commercial-paper rating.  Enron reported $1.01 billi=
on in losses this month from investments outside its business of trading co=
mmodities such as electricity and natural gas. Chief Financial Officer Andr=
ew Fastow quit as the U.S. Securities and Exchange Commission asked for inf=
ormation about transactions he conducted for partnerships he headed.  Moody=
's lowered the senior unsecured long-term debt ratings of Enron from ``Baa1=
'' to ``Baa2.'' The ratings company said they may be lowered further. Moody=
's placed the company's ``P-2'' rating for commercial paper on review for d=
owngrade. Moody's placed Enron's long-term debt ratings on review on Oct. 1=
6.  Moody's rates Enron's unsecured debt as ``Baa1,'' the third- lowest inv=
estment grade.  Enron's long-term credit ratings outlook was changed last w=
eek to negative from stable by Standard & Poor's. S&P affirmed the Houston-=
based company's rating of ``BBB+'' which is investment grade.  Shares of En=
ron fell as much as $1.85, or 12 percent, to $13.55.    <http://bloomberg.t=
veyes.com/>  <http://bloomberg.tveyes.com/>=09
?2001 Bloomberg L.P. All rights reserved. Terms of Service <http://www.bloo=
mberg.com/tos.html>, Privacy Policy <http://www.bloomberg.com/privacy.html>=
 and Trademarks <http://www.bloomberg.com/trademarks.html>.=20


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