The court held, inter alia, that MEHC
was defaulted as a consequence of not obtaining proper representation.
Kirk Morgan, vice president and project leader of MEHC
, says his team will utilize more of the existing available infrastructure to transport gas both within Canada and to export markets in the continental U.
's ratings also reflect BRK's 90% ownership of the company and its strategic commitment to use MEHC
to expand its investments in power and gas assets.
BRK has opportunistically provided capital and financing to MEHC
to pursue acquisitions, including the March 2006 PacifiCorp (PPW) acquisition and Constellation Energy Group (CEG) in 2008.
In addition, MEHC
benefits from its affiliation with BRK through opportunistic M&A activity, which is funded separate from the ECA.
In September 2008, MEHC
announced its planned acquisition of CEG and immediately invested $1 billion (provided by BRK through issuance of MEHC
preferred stock) to support CEG's business operations during a period of extreme financial stress.
, on a consolidated basis with EME, had a loss from continuing operations of $1.
Upon signing a definitive merger agreement, which is expected to occur tomorrow, MEHC
will purchase $1 billion of CEG preferred stock with an 8% coupon.
3 (148) 151 Total EIX Consolidated Earnings (Loss) $749 $(719) $1,468 Liquidity at June 30, 2002 ($ millions) (Unaudited) EIX Only SCE MEHC
Only EME Only EC Cash and equivalents(a) 135 842 30 31(b) 224 Short-term debt -- -- -- -- 19 Credit available under existing credit lines -- -- -- 681(c) -- (a) Excludes restricted cash.
MidAmerican unit MEHC
Funding, LLC, will purchase $275 million of 9-7/8 percent cumulative convertible preferred Williams stock.
The ratings for MEHC
reflect the company's diversified, relatively predictable cash flows and low business risk profile.
Williams has entered into an agreement for the sale of $275 million of a 9-7/8 percent cumulative convertible preferred stock to MEHC