Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  PG&E Corporation    PCG

PG&E CORPORATION (PCG)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

PG&E : Moody's lowers PG&E's credit rating to junk, joins S&P

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/10/2019 | 05:40pm EST
FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise

(Reuters) - Moody's on Thursday joined S&P in lowering PG&E Corp's credit rating deeper into junk territory, citing a challenging environment for the California power provider as it faces billions of dollars in liabilities related to wildfires.

Moody's, which cut PG&E's rating to B2 from Baa3, said access to capital has become more uncertain for the company.

The downgrade followed a Reuters report on Friday, citing sources, that the utility company was exploring filing for bankruptcy protection.

Moody's also downgraded its ratings of PG&E unit Pacific Gas & Electric Co to Ba3 from Baa2.

"The company (PG&E) is increasingly reliant on extraordinary intervention by legislators and regulators, which may not occur soon enough or be of sufficient magnitude to address these adverse developments," Jeff Cassella, Moody's vice president-senior credit officer, said in a statement.

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.

The wildfire, which killed at least 86 people, broke out on the morning of Nov. 8 near the mountain community of Paradise. It is said to be one of the most destructive wildfires in California's history.

Moody's said it would continue to look for signs of legislative and regulatory support for PG&E, as the company works through various investigative, legal and regulatory processes.

(Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PG&E CORPORATION
02:49aPG&E : Stock Rebounds After Selloff
DJ
01/16PG&E : S&P cuts rating on PG&E unit in third such cut this month
RE
01/16PG&E : Shares Stem Decline Even as California Rescue Chances Dim
DJ
01/16PG&E Shares Keep Tumbling as California Rescue Chances Dim
DJ
01/16PG&E to get pulled out of S&P 500, shares near 2001 lows
RE
01/16PG&E : Thinking about buying stock in Aurora Cannabis Inc, Goodyear Tire & Rubbe..
PR
01/16PG&E : Largest Storm During this Week's Series Expected Wednesday — PG&E H..
BU
01/16PG&E : January 15, 2019 – Court Request for Clarification
PU
01/16PG&E : Chapter 11 Plan Sends Jolt
DJ
01/15PG&E : bankruptcy could mean price hikes, unpaid fire lawsuits
AQ
More news
Financials ($)
Sales 2018 17 268 M
EBIT 2018 2 895 M
Net income 2018 293 M
Debt 2018 19 806 M
Yield 2018 -
P/E ratio 2018 5,78
P/E ratio 2019 1,78
EV / Sales 2018 1,36x
EV / Sales 2019 1,38x
Capitalization 3 646 M
Chart PG&E CORPORATION
Duration : Period :
PG&E Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PG&E CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 22,2 $
Spread / Average Target 216%
EPS Revisions
Managers
NameTitle
Geisha J. Williams President, Chief Executive Officer & Director
Richard C. Kelly Independent Non-Executive Chairman
Jason P. Wells Chief Financial Officer & Senior Vice President
Richard A. Meserve Independent Director
Barbara L. Rambo Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PG&E CORPORATION-70.40%3 646
DUKE ENERGY CORP-1.19%60 787
DOMINION ENERGY-3.61%51 871
IBERDROLA-1.42%51 522
SOUTHERN COMPANY6.72%48 224
EXELON CORPORATION1.55%44 289