By Michelle Ma, Bloomberg

While PG&E Corp. was upgraded by one of the major ratings firms last month, California’s biggest utility doesn’t expect others to follow suit until after wildfire season.

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There is “definitely still risk ahead” when it comes to wildfires, even with the recent heavy rains that hit the state, PG&E Corp. Chief Executive Officer Patti Poppe said in an interview. “We’re still definitely on watch and on the ready.”

The utility, which serves about 16 million people in its service territory, is waiting to be upgraded to investment grade by Moody’s Ratings and S&P Global Ratings. Fitch Ratings upgraded the company in September.

The company was on the precipice of investment grade right before the Los Angeles fires earlier this year, Poppe said, but the

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