 Philip Smyth, a senior director at Fitch Ratings, will participate in a panel explaining how to estimate the total amount in damages that California utility, Pacific Gas & Electric, will be ordered to pay for their wildfire liability. The New York Times reported yesterday that about 30,000 people have filed claims against the company for over a dozen fires between 2015 and 2018. The final amount PG&E (NYSE:PCG) is ordered to pay will have a direct impact on how much equity holders retain. Because whatever is left over after paying damages and secured creditors, the ability to estimate the remaining assets to be distributed among shareholders provides a roadmap for valuing PG&E's equities. That roadmap makes this panel's situation report potentially profitable for distressed investors. Philip W. Smyth is a senior director in Fitch Ratings’ Utilities, Power and Gas group, responsible for credit analysis and ratings for U.S. electric utilities. Prior to joining Fitch in 2001, Philip was director of utility focus at Regulatory Research Associates, with primary responsibility for the company’s equity-based research product. Earlier, he was an analyst focusing on the utility industry at major buy- and sell-side institutions. Philip earned a BBS at Bernard Baruch College and is a CFA charter holder. He is a member of the Fixed Income Analysts Society, the New York Society of Securities Analysts, and the Wall Street Utility Group. Philip will join Emily Slater of Burford Capital on this panel. Not registered yet?
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