Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: AV8R who wrote (1035)	12/3/2001 6:50:10 PM
From: Raymond Duray	Read Replies (1) of 1433

AV8R, The Standard Power & Light offer seems to fit the mold of vulture fund announcements. I don't put much faith in their ability to persuade the creditors and bankruptcy judge to take such an unusual course of action. Today, Fitch downgraded ENE debt to "D". They announced that they expect eventual recovery by secured creditors to be in the 20 to 40 cent level. This seems far more likely, IMHO, than any Standard plan. -R.

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