Reliant Resources Inc. (RRI) increased its after-tax operations for 2000 through 2002 by $17 million after miscalculating hedge ineffectiveness in 2001 and 2002 and eliminating four previously disclosed natural gas swap transactions from 2000 and 2001 that should not have been recorded.
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Aquila Reaffirms Liquidity After 52% Drop in Share Price
Kansas City, MO-based Aquila Inc. responded to last Thursday’s 52% drop in its share price by restating its confidence in its liquidity position, credit standing and its preparedness for any sudden collateral requirements in the event of a credit ratings downgrade to junk status. Aquila currently is rated only one notch above junk status by Moody’s Investors Service and Fitch Ratings and two notches above junk by Standard and Poor’s.
Aquila Reaffirms Liquidity After 52% Drop in Share Price
Kansas City, MO-based Aquila Inc. responded to Thursday’s 52% drop in its share price by restating its confidence in its liquidity position, credit standing and its preparedness for any sudden collateral requirements in the event of a credit ratings downgrade to junk status.