Jefferies Cuts Rating on PG&E Corp After Commission Decision on Power Rate Increases

Analyst concerned that rate increase granted by commission would not be sufficient. Warns that company could be out of cash within next several weeks

Jefferies Analyst Paul Fremont lowered his investment rating on beleaguered California utility PG&E Corp. (PCG ) after the California Public Utilities Commission's interim order granting an emergency rate increase. The stock tumbled 6-3/16, or 36.4%, to 10-13/16.

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