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Brief -- PG&E Credit Ratings

Pacific Gas and Electric Co. (PG&E) and parent PG&E Corp. have been downgraded by credit ratings agencies Fitch Ratings and Standard & Poor's Financial Services LLC from "A-" to "BBB+.” Uncertainty surrounding liability for 2017 wildfires in Northern California and uncertainty about the dividend were cited. PG&E is committed to finding solutions to California’s "flawed" reliance on the legal doctrine of inverse condemnation, which puts liability for wildfires on utilities, a spokesperson said. PG&E, along with Southern California utilities, which were involved in other wildfires, are the subject of an ongoing probe.

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