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 S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call

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RR Phantom

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S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call Vide
PostSubject: S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call   S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call Icon_minitimeWed Jan 09, 2019 9:51 pm

One of the biggest surprises involving the ongoing collapse of troubled California utility PG&E is how it was possible, that with the company reportedly contemplating a DIP loan ahead of a possible bankruptcy filing which sent PCG stock plunging and its bonds cratering to all time lows, that rating agencies still had the company rated as investment grade.

S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call PG%26E%20notes

Late on Monday, this question got some closure after S&P became the first rating agency to take a machete to its rating for PG&E, when it downgraded the company by five notches, from BBB- to B, the fifth-highest junk rating; S&P warned that more cuts are imminent.

https://www.zerohedge.com/news/2019-01-08/sp-downgrades-pge-junk-launching-countdown-800-million-collateral-call?fbclid=IwAR2srdn9-aYSgIk0FsZ4zL4YnkvMCKv9cwkEmyYm_mpuN9NjmAPxrUPXBcU
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S&P Downgrades PG&E To Junk, Launching Countdown To $800 Million Collateral Call PgkowJT
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