1. PG&E is Tanking After S&P Downgrades it to Junk

    PG&E is Tanking After S&P Downgrades it to Junk
    • PG&E's credit rating was cut to junk at S&P Global Ratings, sending shares down more than 10% early Tuesday.
    • The downgrade came as bad news has piled up for PG&E amid its potential liabilities from last year's California wildfires, the credit-rating agency said.
    • On Friday, the utility announced that its board of directors would review the company's management. Meanwhile, a report said PG&E was considering filing for bankruptcy protection...
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    1. We expect that negative public sentiment and the increased political pressure will challenge the regulators' willingness and ability to implement measures to protect credit quality over the near term.
    2. These conditions may significantly limit the company's options including its ability to consistently finance or safely operate its businesses.
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