Committed Lines of Credit

9 Months Ended

Sep. 30, 2016

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. A two-year option was exercised by the Company in May 2016 to extend the maturity of the facility agreement to April 2021.

Balances outstanding and interest rates of borrowings (excluding letters of credit) under the Company’s revolving committed lines of credit were as follows as of September 30, 2016 and December 31, 2015 (dollars in thousands):



	September 30,			December 31,
	2016			2015
Borrowings outstanding at end of period (1)	$	187,000		$	105,000
Letters of credit outstanding at end of period	$	73,195		$	44,595
Average interest rate on borrowings at end of period	1.26		%	1.18		%

(1)

As of September 30, 2016, there was $187.0 million outstanding under the committed line of credit; however, $84.0 million was classified as short-term borrowings and the remaining $103.0 million was classified as long-term debt on the Condensed Consolidated Balance Sheet due to the Company's intention to refinance such amount on a long-term basis through the issuance and sale of first mortgage bonds pursuant to a bond purchase agreement entered into in August 2016. See Note 7 for further discussion of the bond purchase agreement and the refinancing of short-term debt on a long-term basis.

AEL&P

AEL&P has a committed line of credit in the amount of $25.0 million that expires in November 2019. As of September 30, 2016 and December 31, 2015, there were no borrowings or letters of credit outstanding under this committed line of credit.