PG&E Likely to Exit Bankruptcy in Time for Wildfire Fund: Mizuho

PG&E rose as much as 3.5% before market open as Mizuho turned bullish on the stock, citing increased likelihood the company will emerge from bankruptcy in time to qualify for protection under the wildfire fund.

• Analyst Paul Fremont said June 30 is the deadline to qualify for protection under the wildfire fund
• The potential cost to the state, creditors and wildlife victims and the company are “catastrophic” if PCG doesn’t emerge by this deadline
  • “Parties will do whatever it takes to approve a viable reorganization plan as quickly as possible”
• Doesn’t see potential 2019 Kincade wildfire claims derailing existing ...