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Gold/Mining/Energy : British Energy -- Ignore unavailable to you. Want to Upgrade?

To: Copperfield who wrote (1)	9/8/2002 6:25:51 PM
From: Copperfield	Read Replies (1) \| Respond to of 25

UK Energy Min Cuts Trip To Steer British Energy Rescue LONDON -U.K. Energy Minister Brian Wilson is to cut short a trip to Latin America and return to the U.K. later Friday to steer financial rescue talks with stricken nuclear producer British Energy PLC , a government spokesman said Friday. "He was due to go to Bolivia and Mexico, but he's coming back today instead of Monday," said Stephen Carter, a spokesman at the Department of Trade and Industry. Carter said DTI officials are meeting with British Energy managers for a third consecutive day Friday in a bid to organize emergency funding for the company. On Wednesday, British Energy warned the government it was facing insolvency if short-term finance couldn't be arranged. Trading in its shares and bonds were suspended Thursday. On Friday, rating agency Moody's Investors Service downgraded British Energy's bonds to Ba3 from Baa2 - effectively junk status. The government has hired investment bank Credit Suisse First Boston to help arrange a credit facility for British Energy. Carter couldn't confirm if talks would extend over the weekend and if Wilson would be involved in them.