tych  -  we are not below bbb

 -----Original Message-----
From: 	Tycholiz, Barry  
Sent:	Wednesday, November 14, 2001 9:18 AM
To:	Bradford, William S.
Cc:	Miller, Stephanie; Grigsby, Mike; Lavorato, John
Subject:	PGT Pipeline L/C Request

Bill, FYI, I have received a formal request from PGT asking Enron to provide security on their pipeline.  The request is for approx $ 11MM. They are referencing a provision in their tariff  that says that if a co. goes below BBB by S&P, then they have the right to ask for security.

I have discussed this request with them and they assure me we are not being singled out. I told them we will review the letter with credit and management and get back to them prior to the deadline imposed on their request( Nov. 20).

A copy of this request will be on your desk first thing this a.m.

regards, BT