Utilities: short-circuiting?

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Despite the questions being asked of electric utility companies in the wake of this summer’s Northeastern Blackout, the situation as far as bondholders are concerned is much less bleak than 2000 through 2002 when many companies were borrowing heavily to enter non-regulated businesses. Even this time last year there was great uncertainty about the fate of many companies.

So, although spreads on bonds in the sector are more generous than other investment-grade sectors, analysts say that spreads ha

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