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PCG PR H - Pacific Gas And Electric Co News Story

$22.31 0.0  0.0%

Sector
Utilities
Size
Large Cap
Market Cap £4.18bn
Enterprise Value £29.87bn
Revenue £13.37bn
Position in Universe th / 6853

BRIEF-Fitch Downgrades PG&E Corp And Utility Sub To 'BBB-' On Negative Watch

Fri 16th November, 2018 5:20pm
Nov 16 (Reuters) - Fitch:
    * FITCH SAYS DOWNGRADES PG&E CORP AND UTILITY SUB TO 'BBB-'
ON
NEGATIVE WATCH
    * FITCH SAYS DOWNGRADE OF PG&E AND UTILITY SUB REFLECTS
"ENORMOUS
INCREASE IN SIZE, INTENSITY AND DESTRUCTIVE POWER" OF WILDFIRES
IN CALIFORNIA DURING 2017-2018
    * FITCH - DOWNGRADE REFLECTS CONCERNS ON ENORMITY OF
LIABILITIES
GIVEN MAGNITUDE, FREQUENCY WILDFIRE ACTIVITY, CO'S ABILITY TO
FUND LIABILITIES
    * FITCH SAYS RATING WATCH NEGATIVE OF PG&E, UNIT CONSIDERS
UNCERTAINTY IN REGULATORY MECHANISMS TO ACHIEVE ACTUAL RECOVERY
OF 2017 FIRE RELATED LIABILITIES
    * FITCH SAYS NEGATIVE WATCH ON PG&E, UNIT CONSIDERS FACT
THAT
RECENTLY ENACTED WILDFIRE LEGISLATION DOES NOT ADDRESS 2018
WILDFIRE-RELATED LIABILITIES

Source text for Eikon:  ID:nFITbWMtGP 
Further company coverage:  PCG.N  PCG_pa.A 

 ((Reuters.Briefs@thomsonreuters.com;))
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