Moody௿½s won௿½t downgrade ratings on California utilities yet

The companies have accumulated over $8 billion in debt in unrecovered power expenses in California. The investor owned utility holding companies were also under a threat last week that Standard & Poor௿½s would downgrade their ratings to ௿½junk௿½ bond status pending action by the California Public Utility Commission.

Dec. 22, 2000–High wholesale electricity prices in the Pacific Northwest have caused investor-owned utilities to rethink customer rates at a time the market is plagued by short supply and spiking prices.

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