Jockey= I stand corrected...my wife pointed out that our extra $300 credit card limit isn't really a "loan" until she spends it. BTW I'm a crippled stockholder thats hoping for a more favorable ruling from the Commission. Also...what is an IRP?
I do know how to search for info but I have little time for liars. Please don't defend such behavior.
OK. PNM increased it's LOC to cover the higher cost of borrowing associated with a lower credit rating. That's what the article says.
'Their low Bond rating has forced them to take out a short term loan of $300 million at higher interest rates ... never a good sign for a utility.' is a false statement.
They did not take out a $300 million loan, but got an increase on their credit card, and are going to start charging things to tide them over till things get better. Sucks and more expensive way to do business but........
beginning to turnarond?"........ya when the temperature starts to rise, natgas starts its rise (comming soon) and "Brown-outs" start to roll... If your governor does'nt lean on those nit wits....?
The lack of an immediate resolution will certainly be an embarrasment for the former Sec. of Energy and will most likely prove to be a "choke" for any future political asperations Richardson may have. My guess is that (they) will reverse 'negative recommendation' and will have to raise rates