Aquila Posts Information on Restructuring Efforts on Website; Work Progressing on Renewal of Short-Term Financing.Business Editors KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.--(BUSINESS WIRE)--March 14, 2003 Aquila, Inc. (NYSE NYSE See: New York Stock Exchange :ILA ILA abbr. insulinlike activity ) today posted information on its website at www.aquila.com (http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ila&script= 1200), providing an update on the company's work on its restructuring plan. (Due to the length of the URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. above, it may be necessary to copy and paste To copy files from one location to another or to copy text and images from one document to another. All modern operating systems and applications have a copy and paste capability that is typically selected from an Edit menu. See cut and paste and Win Copy between windows. this hyperlink into your Internet browser's URL address field.) The material posted summarizes steps taken to date and outlines actions being pursued in the short term. As previously discussed with the investment community, the company's current short-term credit facility is due to expire on April 12. Aquila is working closely with its banking group to renew this facility, using available non-regulated collateral as well as pursuing filings with state regulatory commissions. "We are in constructive discussions with our lead lenders and are working with them to achieve a restructuring of our bank facilities that will be acceptable to the company as well as the banks," said Rick Dobson, Aquila's interim chief financial officer. "We are all working to achieve this outcome by April 11." The company will update the investment community as developments occur in coming weeks. Based in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. , Aquila operates electricity and natural gas distribution networks, serving customers in seven states and in Canada, the United Kingdom, and Australia. The company also owns and operates power generation assets. More information is available at www.aquila.com. |
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