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Business & Money

Some big utilities are looking to get bigger.
Fortnightly Magazine - March 15 2003

issuances, narrowing the uses of proceeds.

FERC commissioners said the new order would prevent U.S. utilities from using debt linked to utility assets for non-utility businesses. Under the new terms U.S. utilities that seek to issue debt backed by their assets must use the proceeds for utility purposes only. If a utility asset is spun off or divested, the debt must follow that asset, FERC said.

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