On Dec. 3, 2003, Standard&Poor's Ratings Services raised its corporate credit rating on Rosemead, Calif.-based utility holding company Edison International (EIX) to 'BB+' from 'B-'. The outlook was revised to stable from developing. The corporate credit ratings of EIX's wholly owned, regulated utility subsidiary, Southern California Edison Co. (SCE), and EIX's investment arm, Edison Funding Co. (EFC), were raised to 'BBB' and 'BB+' from 'BB' and 'B-', respectively. The outlooks for SCE's and EFC's ratings were also revised to stable from developing. In addition, the short-term and commercial paper ratings for EFC were raised to 'B' from 'C'. These positive ratings actions do not extend to the corporate credit ratings assigned to EIX's merchant energy subsidiaries, whose ratings
