Business Context and Reporting Period
This Form 8-K is a joint current report filed by Pinnacle West Capital Corporation and Arizona Public Service Company on May 3, 2006. The filing addresses a regulatory event involving the Federal Energy Regulatory Commission (FERC).
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt levels, or liquidity ratios. The report focuses exclusively on regulatory approval regarding financing capabilities.
Material Changes
On May 3, 2006, the FERC issued an order approving Pinnacle West Capital Corporation's application to:
- Borrow funds under its Amended and Restated Credit Agreement dated December 9, 2005.
- Issue a broad range of debt and equity securities.
This approval follows a prior FERC order issued on April 17, 2006.
Guidance, Outlook, and Risks
The filing contains no management commentary on future financial guidance, operational outlook, or specific risk factors beyond the context of the regulatory approval. No unusual items or contingencies are disclosed in this text.
Investor Verification Checklist
- Verify the terms and capacity of the Amended and Restated Credit Agreement dated December 9, 2005.
- Review the April 24, 2006 Form 8-K for details on the April 17, 2006 FERC order referenced in this filing.
- Confirm the specific types of debt and equity securities Pinnacle West intends to issue under the new approval.