{"id":24168,"date":"2025-09-26T17:26:12","date_gmt":"2025-09-26T17:26:12","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=840790"},"modified":"2025-09-26T17:26:12","modified_gmt":"2025-09-26T17:26:12","slug":"fire-fund-helps-raise-pge-to-investment-grade-six-years-after-bankruptcy","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2025\/09\/26\/fire-fund-helps-raise-pge-to-investment-grade-six-years-after-bankruptcy\/","title":{"rendered":"Fire Fund Helps Raise PG&amp;E to Investment Grade Six Years After Bankruptcy"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2025\/09\/PGE-truck-on-a-road-Bloomberg-580x387.jpg\"><\/p>\n<div><img decoding=\"async\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2025\/09\/PGE-truck-on-a-road-Bloomberg-scaled.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2025\/09\/26\/840790.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2025\/09\/26\/840790.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">PG&amp;E Corp., which filed for bankruptcy in 2019 following devastating blazes, was upgraded to investment grade by Fitch Ratings after the California legislature boosted the size of a fire insurance fund.<\/p>\n<p>The ratings agency attributed the upgrade to the approval of an additional $18 billion into the fund designed to help utilities pay fire damages, as well as PG&amp;E\u2019s progress in \u201ccombating wildfire risk.\u201d<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p><strong>Related: <a href=\"https:\/\/www.insurancejournal.com\/news\/west\/2025\/09\/10\/838729.htm\">California Plans to Boost Utility Wildfire Fund by $18 Billion<\/a><\/strong><\/p>\n<p>Fitch added that PG&amp;E could also benefit from a new California law that will require a study to examine how to more effectively spread the cost of wildfires.<\/p>\n<p>PG&amp;E didn\u2019t immediately respond to a request for comment.<\/p>\n<p>Fitch\u2019s decision reflects a years-long effort by PG&amp;E to fully rebound from one of the worst periods in its history. The company became the largest utility to file for bankruptcy when it did so in 2019. That came just weeks after PG&amp;E was downgraded to junk, in an unusually rapid collapse triggered after the company\u2019s equipment sparked the 2018 Camp Fire in Northern California. PG&amp;E exited bankruptcy in 2020 after agreeing to settle fire-related claims for about $25.5 billion.<\/p>\n<p>An investment-grade rating can significantly cut a company\u2019s borrowing costs. But it typically takes two high-grade ratings for investors to consider a company to be part of that asset class, and for its bonds to be included in high-grade indexes. Moody\u2019s Ratings and S&amp;P Global Ratings still count the company as junk.<\/p>\n<p>PG&amp;E had about $60 billion of total debt at the end of June, according to securities filings.<\/p>\n<div class=\"copyright-notice quiet\">Copyright 2025 Bloomberg.<\/div>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"840790\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! Please tell us what we can do to improve this article.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-yes\">\n<form class=\"feedback-form\">\n<p>Thank you! <span class=\"percent\"><\/span>% of people found this article valuable. Please tell us what you liked about it.<\/p>\n<p> <textarea placeholder=\"Enter your feedback...\"><\/textarea> <button type=\"submit\" class=\"submit\" disabled>Submit<\/button> <button class=\"cancel\">No Thanks<\/button> <\/form>\n<\/p><\/div>\n<div class=\"article-poll-more-articles\">\n<p class=\"thank-you-text\">Here are more articles you may enjoy.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"subscribe-banner subscribe-banner-in-content-2\">\n<div class=\"content\">\n<h4>The most important insurance news,in your inbox every business day.<\/h4>\n<p>Get the insurance industry&#8217;s trusted newsletter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article 0 Comments PG&amp;E Corp., which filed for bankruptcy in 2019 following devastating blazes, was upgraded to investment grade by Fitch Ratings after the California legislature boosted the size of a fire insurance fund.&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":24169,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[843,1648,68,1,1423,1649,9],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2025\/09\/fire-fund-helps-raise-pge-to-investment-grade-six-years-after-bankruptcy.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24168"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=24168"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/24168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/24169"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=24168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=24168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=24168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}