Signage is displayed on the exterior of Pacific Gas and Electric Corp. (PG&E) Signage is displayed on the exterior of Pacific Gas and Electric Corp. (PG&E) headquarters in San Francisco, California, on Monday, Jan. 14, 2019. PG&E Corp. said it will file for bankruptcy in California after the cost of wildfires left it with potential liabilities of $30 billion or more, gutting its share price and prompting the departure of its chief executive officer. (Photo: David Paul Morris/Bloomberg)

PG&E Corp. told investors repeatedly that weather-related disasters were a risk, but many didn't pay enough attention until the company was on the brink of bankruptcy.

The company included warnings in its regulatory filings and offering prospectuses citing how disasters like wildfires, droughts and floods, could weigh on its results or disrupt its operations. But until mid-November, the company's bonds were trading above face value, even those due decades from now, implying that money managers thought those risks were manageable.

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