LAS VEGAS, April 21 /PRNewswire-FirstCall/ -- Sierra Pacific Resources
(NYSE: SRP) announced today that its two wholly-owned subsidiaries, Nevada
Power Company and Sierra Pacific Power Company have successfully amended
their existing revolving credit facilities, increasing the amount of each
credit facility by $100 million.
These amended facilities consist of a $600 million revolving facility
for Nevada Power and a $350 million revolving facility for Sierra Pacific
Power, both to mature in November 2010. The facilities will be used for
general corporate purposes, including increasing the companies' liquidity
to cover increased commodity prices.
Wachovia Bank, National Association, serves as the administrative agent
for both credit facilities.
Headquartered in Nevada, Sierra Pacific Resources is a holding company
whose principal subsidiaries are Nevada Power Company, the electric utility
for most of southern Nevada, and Sierra Pacific Power Company, the electric
utility for most of northern Nevada and the Lake Tahoe area of California.
Sierra Pacific Power Company also distributes natural gas in the
Reno-Sparks area of northern Nevada. Other subsidiaries include the
Tuscarora Gas Pipeline Company, which owns 50 percent interest in an
interstate natural gas transmission partnership and several unregulated
energy services companies.
SOURCE Sierra Pacific Resources
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CONTACT:
Media, Andrea Smith, +1-702-367-5843, or
Analysts, Britta Carlson, +1-702-367-5624, both for Sierra
Pacific Resources
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