Fitch lowers San Diego Gas view to negative

Fitch Ratings said it affirmed San Diego Gas & Electric Co.'s long-term issuer default rating at A- and revised the outlook to negative from stable.

The negative outlook reflects a lack of confidence in California's ability to reach a timely and balanced agreement to address the recovery of large wildfire liabilities, Fitch said.

San Diego Gas has a solid financial profile and robust fire mitigation measures, the agency said.

The negative outlook also considers the potential impact of the sharp increase in the magnitude and frequency of catastrophic wildfires in California without a sound regulatory and legislative framework, Fitch added.

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