S&P Global threatens junk downgrade for PacifiCorp after $305 million wildfire verdict. Berkshire Hathaway's utility subsidiary faces potential credit rating cuts of one to two notches depending on future litigation outcomes. An Oregon jury awarded $19 million per plaintiff in a Labor Day windstorm case, significantly higher than the $5 million average from earlier trials. PacifiCorp confronts approximately $50 billion in total wildfire exposure, with $48 billion in potential payouts ahead. Loss of investment-grade status could impair the utility's ability to raise capital for operations and customer services. Berkshire Hathaway Energy maintains sufficient liquidity beyond one year, though the company contests some claims. CEO Greg Abel stated the conglomerate accepts responsibility for caused wildfires but will challenge unjustified claims in court proceedings.
Post from MarketNews_en
Log in to interact with content.