The party at AA is Roger Willard 713 646 6360 if you feel up to trying to convince him.   

Rod
Cell 713 201 6135

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-----Original Message-----
From: Hayslett, Rod <Rod.Hayslett@ENRON.com>
To: Bowen Jr., Raymond <Raymond.Bowen@ENRON.com>
Sent: Sun Nov 11 15:38:43 2001
Subject: AA Concerns

Yes.  They want us to record the amounts loaned, normal loans, as a reduction of equity, if ENE does not currently have the ability to repay from either cash or other assets or credit capability.  They do not want to count the 1.5B or the bank loans since they will simply increase the size of the notes.  They are specifically concerned about the current intercompany notes.
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