begin quote from:PG&E Plunges Into Crisis as It Faces Reckoning Over Fires
Shares of PG&E Corp. plummeted as much as 32 percent Wednesday after the company said it had exhausted its revolving credit lines, signaling it was shoring up its cash to prepare for a possible credit downgrade to junk. The utility’s filing also may have marked the start of a campaign to get bailed out by California’s lawmakers -- as it was after last year’s fires. “Watching this whole thing play out, it’s like a slow motion train wreck,” said John Bartlett, utility portfolio manager at Reaves Asset Management.
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