Committed Lines of Credit

6 Months Ended

Jun. 30, 2017

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 that expires in April 2021. 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.

Borrowings 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, 2017 and December 31, 2016 (dollars in thousands):



	June 30,			December 31,
	2017			2016
Borrowings outstanding at end of period	$	136,000		$	120,000
Letters of credit outstanding at end of period	$	56,703		$	34,353
Average interest rates at end of period	1.99		%	1.50		%

As of June 30, 2017 and December 31, 2016, the borrowings outstanding under Avista Corp.'s committed line of credit were classified as short-term borrowings on the Condensed Consolidated Balance Sheet. The additional short-term borrowings outstanding as of June 30, 2017 on the Condensed Consolidated Balance Sheet relate to a short-term note payable by a subsidiary for the acquisition of land that will be repaid in early 2018.

AEL&P

AEL&P has a committed line of credit in the amount of $25.0 million that expires in November 2019. As of June 30, 2017 and December 31, 2016, there were no borrowings or 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.