Bonds of PG&E Corp. and Edison International broadly weakened after California lawmakers rejected a key element of Gov. Gavin Newsom’s proposal to shift wildfire liabilities off the state’s utilities. The failure to move liabilities increases perceived tail risk for utility balance sheets, pressuring credit sentiment into the new legislative cycle.
Bonds of PG&E Corp. and Edison International broadly weakened after California lawmakers rejected a key element of Gov. Gavin Newsom’s proposal to shift wildfire liabilities off the state’s utilities. The failure to move liabilities increases perceived tail risk for utility balance sheets, pressuring credit sentiment into the new legislative cycle.
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mildly negative
Sentiment Score
-0.35
Ticker Sentiment
