BlueMountain Capital Management, LLC, a private diversified alternative asset management firm, today sent an open letter to the Board of Directors of PG&E Corporation (NYSE: PCG) and the Board of Directors of Pacific Gas and Electric Company challenging their plans announced January 14 to file for Chapter 11.

"There is overwhelming evidence that PG&E is solvent. We simply cannot recall a situation where such a valuable company filed for bankruptcy with such blatant questions about the necessity of doing so," reads the letter.

The full text of the letter and attached Exhibits can be viewed on BlueMountain's website here: https://www.bluemountaincapital.com/what-is-new/

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