S&P assigns PG&E short-term rating of A-2

Standard & Poor's said it assigned an A-2 short-term commercial-paper rating to PG&E Corp.'s $300 million 4(a)(2) commercial-paper program.

S&P also said it assigned an A-2 short-term issuer credit rating to PG&E.

The company's long-term issuer credit rating is BBB and the outlook is negative.

The negative outlook reflects the financial penalties from the San Bruno pipeline explosion, ongoing difficulty managing regulatory risk and the company's limited willingness or ability to issue equity, S&P said.

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