Improved Financial Strength Liquidity
Current liquidity of $1.5 billion
- Reflects proceeds from Bewag sale
- Capital spending through February of ~$300 million (of $1.9 billion 2002 budget)
- Anticipate no other material collateral postings resulting from Moody’s downgrade
Expect to end 2002 with more than $1 billion of liquidity
- Assumes incremental $350 million in asset sales
- Assumes approximately $300 million of drawn non-recourse financing in Asia and the Americas
- No significant changes from prior guidance