NEW YORK (Standard&Poor's CreditWire) Jan. 4, 2001--Standard&Poor's today lowered its credit ratings of Edison International, its wholly owned subsidiaries Southern California Edison Co. (SoCalEd) and Edison Funding Co., and other related entities. The affected ratings are listed below (also see related press release on PG&E Corp. and units). The downgrades reflect the failure of the California Public Utilities Commission's (CPUC) Jan. 4, 2001 rate order to meaningfully address a market structure that compels the utility to serve customers at prices that are substantially below the cost of procuring wholesale power. The utility's resulting heavy debt burden and dearth of liquidity are inconsistent with a higher rating and may lead to further rating downgrades unless state or
