entergy gulf states louisiana , l.l.c .
management's financial discussion and analysis sources of capital entergy gulf states louisiana's sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred membership interest issuances ; and bank financing under new or existing facilities .
entergy gulf states louisiana may refinance or redeem debt and preferred equity/membership interests prior to maturity , to the extent market conditions and interest and dividend rates are favorable .
all debt and common and preferred equity/membership interest issuances by entergy gulf states louisiana require prior regulatory approval .
preferred equity/membership interest and debt issuances are also subject to issuance tests set forth in its corporate charter , bond indentures , and other agreements .
entergy gulf states louisiana has sufficient capacity under these tests to meet its foreseeable capital needs .
entergy gulf states , inc .
filed with the ferc an application , on behalf of entergy gulf states louisiana , for authority to issue up to $ 200 million of short- term debt , up to $ 500 million of tax-exempt bonds and up to $ 750 million of other long-term securities , including common and preferred membership interests and long-term debt .
on november 8 , 2007 the ferc issued orders granting the requested authority for a two-year period ending november 8 , 2009 .
entergy gulf states louisiana's receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .

2008
2007
2006
2005
( in thousands )
( in thousands )
( in thousands )
( in thousands )
$ 11589
$ 55509
$ 75048
$ 64011

see note 4 to the financial statements for a description of the money pool .
entergy gulf states louisiana has a credit facility in the amount of $ 100 million scheduled to expire in august 2012 .
no borrowings were outstanding under the credit facility as of december 31 , 2008 .
in may 2008 , entergy gulf states louisiana issued $ 375 million of 6.00% ( 6.00 % ) series first mortgage bonds due may 2018 .
the proceeds were used to pay at maturity the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had not been assumed by entergy texas and to redeem , prior to maturity , $ 189.7 million of the $ 350 million floating rate series of first mortgage bonds due december 2008 , and for other general corporate purposes .
the portion of the $ 325 million of 3.6% ( 3.6 % ) series first mortgage bonds due june 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in june 2008 , and that bond series is no longer outstanding .
the portion of the $ 350 million floating rate series of first mortgage bonds due december 2008 that had been assumed by entergy texas were paid at maturity by entergy texas in december 2008 , and that bond series is no longer outstanding .
hurricane rita and hurricane katrina in august and september 2005 , hurricanes katrina and rita hit entergy gulf states inc.'s jurisdictions in louisiana and texas .
the storms resulted in power outages ; significant damage to electric distribution , transmission , and generation infrastructure ; and the temporary loss of sales and customers due to mandatory evacuations .
entergy gulf states louisiana is pursuing a range of initiatives to recover storm restoration and business continuity costs and incremental losses .
initiatives include obtaining reimbursement of certain costs covered by insurance and pursuing recovery through existing or new rate mechanisms regulated by the ferc and local regulatory bodies , in combination with securitization. .

Question: what is the percent change in receivables from the money pool between 2007 and 2008?
Answer: -79%
Calculation: subtract(11589, 55509), divide(#0, 55509)