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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (54927)	1/5/2001 9:10:37 PM
From: flatsville	Read Replies (3) of 436258

patron- The providers will get paid. Bail out on the way. California Bond Plan to Rescue Utilities May Carry Top Ratings quote.bloomberg.com Under the proposed bond sale, the California authority would serve as a conduit for the utilities to the bond market, with investors offered taxable debt repaid by a special fee that appeared on the bills of utility customers. If this fee, technically called a tariff, is set in stone by the state legislature, this arrangement can provide top ``AAA'' bond ratings even for companies that this week saw their own ratings plummet. They've done this kind of thing before...and the market just snaps 'em right up. Pension funds and insurance companies were among the investors in the previous fee-backed bonds. One of the bonds sold for Edison, with a 2009 maturity, is held almost entirely by various insurance companies, according to Bloomberg analytics. Read the entire article.

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