Enron Mail

From: carol.clair@enron.com To: elizabeth.sager@enron.com Subject: Utility Issues Cc: sara.shackleton@enron.com Bcc: sara.shackleton@enron.com Date: Tue, 20 Mar 2001 04:23:00 -0800 (PST) Elizabeth, Per my voice mail here is what credit wants to explore. If we have an ISDA in place with a non-regulated affiliate of a utility, they want to create some credit triggers that would be based on events that occur with respect to our counterparty's regulated utility affiliate. Can this be done? Could we, for example, have a drop in the credit rating of the utility trigger a MAC? Could we cross default to the utility's physical and/or financial transactions? I know that there are limitations on what can be done, I just didn't know how extensive they were. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com