PG&E's (PCG) credit rating is downgraded by Moody's

NYSE: PCG | Pacific Gas & Electric Co. Common Stock News, Ratings, and Charts

PCG – Moody’s on Thursday cut PG&E Corp’s credit rating to B2 from Baa3.

Jan 10 (Reuters) – Moody’s on Thursday cut PG&E Corp’s credit rating to B2 from Baa3, citing a challenging environment for the California power provider as potential liabilities grow, liquidity reserves decline and access to capital becomes more uncertain.

Moody’s said its ratings remain on review for a downgrade and comes on the heels of a downgrade by S&P.

S&P cut the rating on PG&E and its Pacific Power & Gas Co unit on Monday to “B” from “BBB-,” the lowest tier of so-called investment-grade ratings.

Reuters reported on Friday, citing sources, that the utility company was exploring filing for bankruptcy protection. The company was considering the move, for some or all of its businesses, as it faces billions of dollars in liabilities related to wildfires. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)

PG&E Corp. shares . Year-to-date, PCG has declined -25.22%, versus a 3.59% rise in the benchmark S&P 500 index during the same period.

PCG currently has a POWR Rating of D (Sell), and is ranked #58 of 64 stocks in the Utilities – Domestic category.

This article is brought to you courtesy of Yahoo Finance.

PCG at a Glance

PCG Current POWR Rating™
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PCG Current Price $18.27 0.30%
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PCG Price Reaction

The day of this event (Jan. 10, 2019)
PCG Closing Price$17.76 0.39%
PCG Volume24,798,300
235.57% from avg
Leading up to this event
PCG 1-mo return31.13%
After this event
PCG 1-day return1.36%
PCG 3-day return158.03%
PCG 5-day return180.35%

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