Any PG&E bankruptcy would pit bonds against burnt out homes [MSN Money]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: MSN Money
© 2017 Getty Images Pacific Gas and Electric Company crews work to restore power near fire-damaged Cardinal Newman High School on October 14, 2017 in Santa Rosa, California. Any PG&E Corp. bankruptcy filing could come down to a fight between bondholders who lent the company money and property owners whose homes were scorched by wildfires. The utility company has $18 billion of bonds that are unsecured, meaning the debt would have equal priority to get repaid in a bankruptcy as the roughly $30 billion in potential liabilities that analysts have estimated from 2017 and 2018 California wildfires. PG&E recently completely drew down its credit lines. The company hasn’t said it plans to file for bankruptcy, and is still rated investment grade. But some analysts say it may have to eventually reorganize under court protection to clear its fire-linked liabilities. © Bloomberg PG&E Debt There is a trick that PG&E could use to improve investors’ status in bankruptcy, a
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PCG
News
- PG&E Co. (NYSE: PCG) had its price target raised by analysts at Barclays PLC from $20.00 to $21.00. They now have an "overweight" rating on the stock.MarketBeat
- PG&E First Quarter 2024 Earnings: Revenues Disappoint [Yahoo! Finance]Yahoo! Finance
- Economic And Business Impacts Of FTC's Noncompete Ban [Forbes]Forbes
- PG&E CEO Says Soaring Power Bills Are Poised to Start Dropping [BNN Bloomberg (Canada)]BNN Bloomberg
- Warren Buffett 'got it wrong' on California fire risk, PG&E CEO says [Seeking Alpha]Seeking Alpha
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- 4/4/24 - Form ARS
- PCG's page on the SEC website