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Spokane, Wash., July 13// -- Avista Energy, Avista Corp.'s (NYSE: AVA) electricity and natural gas marketing, trading and resource management subsidiary, today announced that it has renewed its committed line of credit, extending the expiration date to July 12, 2007, while increasing the aggregate amount from $110 million to $145 million.
"We are very pleased to renew our credit facility for an increased amount and a longer committed term of two years," said Dennis Vermillion, president of Avista Energy. "We believe these enhancements demonstrate recognition by our banks that Avista Energy continues to be a strong, focused performer in Western energy markets. The renewed credit facility will provide continued financial flexibility going forward and reinforce our strong relationship with our banking partners."
About Avista Energy
Avista Energy is an electricity and natural gas marketing, trading and resource management business, applying its energy marketing knowledge and expertise to physical assets in Western regional markets. Avista Energy controls or manages hydroelectric and natural gas-fired resources or assets owned by other companies in the West and also manages natural gas assets both pipelines and storage. For more information on Avista Energy, visit www.avistaenergy.com.
About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is a company operating division that provides service to 330,000 electric and 285,000 natural gas customers in three western states. Avista's non-regulated subsidiaries include Avista Advantage and Avista Energy. Avista Corp.'s stock is traded under the ticker symbol "AVA." For more information about Avista, visit www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
This news release contains a forward-looking statement (within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended), regarding future financial flexibility. Such statement speaks only as of the date of the news release and is subject to a variety of risks and uncertainties, many of which are beyond the company's control and which could cause actual results to differ materially from the expectations. For a discussion of material risks and uncertainties and other important factors that can affect Avista Energy's financial flexibility, please refer to the company's Annual Report on Form 10-K for the year ended Dec. 31, 2004, and the company's Form 10-Q for the first quarter ended March 31, 2005.
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