Moody’s revises PG&E to positive

Moody's Investors Service said it affirmed PG&E Corp.’s (PCG) ratings, including its senior unsecured rating of Baa1, and revised the outlook to positive from stable.

The ratings of Pacific Gas & Electric Co. (PG&E), PCG's principal utility operating subsidiary, were similarly affirmed, including its A3 senior unsecured rating, with its outlook revised to positive from stable.

"The positive outlook reflects our view that PG&E has made sufficient progress in resolving the numerous safety issues and legal claims related to the San Bruno pipeline explosion incident," Moody’s vice president, senior credit officer Toby Shea said in a news release.

"Though there is still an ongoing federal criminal trial against the company regarding pipeline operations, we believe the risk is relatively contained and does not pose a serious downside to PG&E's credit profile."

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