PG&E Gets AIG-ed: Moody's Downgrade Triggers $800MM Collateral Call, Liquidity Crisis | WHAT REALLY HAPPENED


PG&E Gets AIG-ed: Moody's Downgrade Triggers $800MM Collateral Call, Liquidity Crisis

For PG&E, just like for AIG ten years ago, this is the beginning of the end.

As we discussed on Tuesday, 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.

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I love the smell of capitalism in the morning

jrohio2

Shareholders will save tons of cash from CA law suits

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