Whose

Buffett Adds CenterPoint to Energy Portfolio with $1.31B Loan

Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.

November 11, 2002

Moody’s to Assign Liquidity Ratings for Junk-Rated Companies

For companies whose debt level falls to “junk” status, Moody’s Investors Service plans to begin assigning “Speculative Grade Liquidity Ratings,” or SGLs, to isolate its opinion of an issuer’s liquidity risk. The ratings will specifically rate a junk-rated company’s liquidity over a 12-month period using four grades, from “very good” to “weak.”

September 16, 2002

Moody’s to Assign Liquidity Ratings for Junk-Rated Companies

For companies whose debt level falls to “junk” status, Moody’s Investor Service plans to begin assigning “Speculative Grade Liquidity Ratings,” or SGLs, to isolate its opinion of an issuer’s liquidity risk. The ratings will specifically rate a junk-rated company’s liquidity over a 12-month period using four grades, from “very good” to “weak.”

September 13, 2002

Three Indicate Desire to Handle Georgia’s POLR Program

Following a plea by the Georgia governor to help the thousands of state consumers whose natural gas remains cut off for not paying bills, two marketers and a Georgia utility have stepped forward to fulfill the role of provider of last resort (POLR). Gov. Roy Barnes earlier this month asked the state’s Consumers Utility Counsel (CUC) to petition the Public Service Commission (PSC) because nearly 50,000 customers remain without gas after being unable to pay last winter’s unusually high bills.

November 19, 2001

Three Indicate Desire to Handle Georgia’s POLR Program

Following a plea by the Georgia governor to help the thousands of state consumers whose natural gas remains cut off for not paying bills, two marketers and a Georgia utility have stepped forward to fulfill the role of provider of last resort (POLR). Gov. Roy Barnes earlier this month asked the state’s Consumers Utility Counsel (CUC) to petition the Public Service Commission (PSC) because nearly 50,000 customers remain without gas after being unable to pay last winter’s unusually high bills (see Daily GPI, Nov. 12).

November 19, 2001

Aquila Says Earnings Up 37%; Watching Enron Exposure

Aquila Inc., whose initial public offering opened with a flourish on Wall Street last spring, is essentially one year ahead in its earnings per share (EPS) forecast, and is on track to continue to deliver 25% growth into 2002, according to executives presenting third quarter earnings on Monday. The Kansas City, MO-based company, a subsidiary of UtiliCorp United Inc., reported net income of $37.2 million, or $.37 per share, an increase of 37% over the third quarter a year ago, when earnings posted were $.27 per share, or $23 million of net income. UtiliCorp offered Aquila as an IPO last April (see Daily GPI, April 25).

November 6, 2001

Anadarko Buys Canada’s Gulfstream Resources

In a cash deal, Anadarko Petroleum Corp. is acquiring Canadian-based Gulfstream Resources Canada Ltd., an international oil and gas company whose assets are centered in Qatar and Oman. Anadarko will pay C$2.65 a share for the company, making it work about US$137 million, and will add an estimated 70 MMboe of proved reserves and 4,700 b/d of production to its portfolio.

June 26, 2001

AGL Profits Should Top Estimates

Atlanta’s natural gas utility holding company, AGL ResourcesInc., whose stock prices have fallen nearly 14% in the past year,said last week that cost cutting and more customers will pushthird-quarter profits ahead of analysts’ estimates. AGL wasexpected to earn 21 cents a share in the three months ending lastFriday (June 30), the average estimate of several analysts polledby First Call/Thomson Financial.

July 3, 2000

AGL Predicts 3Q Earnings to Top Estimate

Atlanta’s natural gas utility holding company, AGL ResourcesInc., whose stock prices have fallen nearly 14% in the past year,said yesterday that cost cutting and more customers will pushthird-quarter profits ahead of analysts’ estimates. AGL wasexpected to earn 21 cents a share in the three months ending today,the average estimate of several analysts polled by FirstCall/Thomson Financial.

June 30, 2000

NY Trade Board Tries to Make Amends with Nymex

New York Board of Trade reached an agreement last week to “makewhole” all floor operators whose funds were used to meet marginobligations of Klein and Co. Futures Inc. NYBOT said it will payback the innocent traders and customers of Klein. NYBOT’s decisioncame not long after the New York Mercantile Exchange and 15 of itsmembers filed a class action complaint against NYBOT, New YorkClearing Corp. (NYCC) and Klein, alleging that NYBOT improperlyused funds of Klein customers who also traded Nymex energy, oil andmetals contracts to satisfy obligations of an unrelated Kleincustomer on the New York Futures Exchange, a unit of NYBOT.

May 22, 2000