The attached memorandum outlines the main points discussed with Standard & 
Poors and Moody's rating analysts last Thursday.  As a result of the 
discussions, both S&P and Moody's will be affirming their ratings.  

Please let me know if you have any questions or need additional information.

Tim


----- Forwarded by Tim DeSpain/HOU/ECT on 10/31/2000 08:18 AM -----

	Tim DeSpain
	10/25/2000 04:57 PM
		 
		 To: J Mark Metts/NA/Enron@Enron, Lance Schuler-Legal/HOU/ECT@ECT
		 cc: 
		 Subject: Rating Agency Talking Points

Please see attached revision pursuant to our meeting earlier today.  Let me 
know if you have any questions or comments.

Tim