XML 41 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Committed Lines of Credit | 6 Months Ended
--- | ---
Jun. 30, 2020
Short Term Borrowings [Abstract] |
COMMITTED LINES OF CREDIT | NOTE 8. COMMITTED LINES OF CREDIT Avista Corp. Avista Corp. has a committed line of credit with various financial institutions in the total amount of $400.0 million. During the second quarter, the Company amended and extended, for one additional year, the revolving line of credit agreement for a revised expiration date of April 2022, with the option to extend for an additional one year period. The committed line of credit is secured by non-transferable first mortgage bonds of the Company issued to the agent bank that would only become due and payable in the event, and then only to the extent, that the Company defaults on its obligations under the committed line of credit. Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed line of credit were as follows as of June 30, 2020 and December 31, 2019 (dollars in thousands):
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Balance outstanding at end of period |  | $ | 221,000 |  |  | $ | 182,300 |
Letters of credit outstanding at end of period |  | $ | 19,373 |  |  | $ | 21,473 |
Average interest rate at end of period |  |  | 1.22 | % |  |  | 2.64 | %
As of June 30, 2020 and December 31, 2019, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Condensed Consolidated Balance Sheet. AEL&P AEL&P has a committed line of credit in the amount of $25.0 million that expires in November 2024. As of June 30, 2020 and December 31, 2019, there were borrowings of $0 and $3.5 million, respectively, and there were no letters of credit outstanding under this committed line of credit. The committed line of credit is secured by non-transferable first mortgage bonds of AEL&P issued to the agent bank that would only become due and payable in the event, and then only to the extent, that AEL&P defaults on its obligations under the committed line of credit. NOTE 9. CREDIT AGREEMENT Credit Agreement On April 6, 2020, the Company entered into a Credit Agreement with U.S. Bank National Association, as Lender and Administrative Agent, and CoBank, ACB, as Lender, in the amount of $100 million at an interest rate of 1-Month LIBOR plus 125 basis points with an expiration date of April 5, 2021. Indebtedness under this agreement is unsecured. The Credit Agreement contains customary covenants and default provisions, including a covenant not to permit the ratio of "consolidated total debt" to "consolidated total capitalization" of Avista Corp. to be greater than 65 percent at any time. The Company has borrowed the entire $100 million available under this agreement, which is being used to provide additional liquidity. The borrowing can be prepaid; however, the amount prepaid cannot be re-borrowed.

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration