Fitch Rates PG&E's Sr Notes 'A'; Outlook Stable

NEW YORK--(Business Wire)--
Fitch Ratings has assigned an 'A' rating to Pacific Gas and Electric Company's
(PG&E) $500 million issuance of floating rate senior notes. Proceeds from the
debt issuance will be used to support PG&E's liquidity requirements relating to
commodity hedging, including repayment of outstanding commercial paper issued to
meet margin calls. The Rating Outlook is Stable.

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, www.fitchratings.com. Published ratings, criteria and
methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

Fitch Ratings, New York
Philip Smyth, CFA, 212-908-0531
Ellen Lapson, CFA, 212-908-0504
Cindy Stoller, 212-908-0526 (Media Relations)
cindy.stoller@fitchratings.com

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