PG&E's Debt Holders Fear They Won't Be Paid
- 5 years ago
According to Business Insider, PG&E's recent woes have battered investors in the stock market. Holders of the company's bonds are now growing worried.
Trading figures for California's largest gas and power company signal that investors fear losses as a result of PG&E's exposure to $30 billion in liabilities for the firm's role in the wildfires which devastated northern California in 2017 and 2018.
PG&E shares lost more than 52% on Monday, and are down 25% on Tuesday as of 10:00 a.m. in New York.
Trading figures for California's largest gas and power company signal that investors fear losses as a result of PG&E's exposure to $30 billion in liabilities for the firm's role in the wildfires which devastated northern California in 2017 and 2018.
PG&E shares lost more than 52% on Monday, and are down 25% on Tuesday as of 10:00 a.m. in New York.