Pacific Gas & Electric Rating Is Raised
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From Bloomberg News
Pacific Gas & Electric, California’s biggest utility, had its credit rating increased three levels to the second-highest junk grade after state regulators approved a reorganization plan.
The rating on $8 billion in debt was increased to Ba2 from B2, Moody’s said. San Francisco-based PG&E; Corp. owns Pacific Gas & Electric.
Shares of PG&E; rose 35 cents to $27.70 on the NYSE before the news.
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