AT Washington Water Power, Bobby Schmidt was appointed director of the company, and Paul A. Redmond announced his retirement as chair and CEO. Redmond started with the company in 1965. Previously...
Business & Money
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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