On Nov. 28, 2001, credit rating agencies reduced Enron's credit rating to junk status, effectively solidifying the company's path to bankruptcy.12On the same day, Dynegy, a fellow energy company Enron was attempting to merge with, decided to nix all future conversations with the company and ...
The company also restated earnings back to 1997. Enron had losses of $591 million and $690 million in debt by the end of 2000. Dynegy, a company that previously announced it would merge with Enron, backed out of the deal on November 28. By Dec. 2, 2001, Enron filed for bankruptcy....