PG&E downgraded

The Associated Press
Saturday October 19, 2002

SAN FRANCISCO — PG&E Corp. suffered another financial blow Friday when Moody’s Investors Service said it was downgrading the credit rating of one of the energy giant’s subsidiaries. 

Meanwhile, PG&E was negotiating with its lenders on $851 million in debt payments due Friday and Monday. Hertzog said PG&E expected to have a resolution by the end of the day Friday.