NEW YORK (Standard&Poor's) Feb. 20, 2014--Standard&Poor's Ratings Services said today that the announcement by Edison International (EIX; BBB-/Watch Pos/A-3) that EIX had reached a settlement with its subsidiary Edison Mission Energy (EME) and the holders of a majority of EME's senior unsecured debt is beneficial for bondholders and reinforces the Oct. 21, 2013 placement of the ratings on EIX on CreditWatch with positive implications. The settlement supports an amended Plan of Reorganization of EME, which is operating under the protection of the U.S. Bankruptcy Code, and significantly reduces the threat of direct involvement of EIX in the bankruptcy and the risk of material financial exposure to EME and its creditors. We project that neither the EME
