...- The California Public Utilities Commission (CPUC) rendered a decision on Edison International (Edison) subsidiary, Southern California Edison Co. (SCE)'s general rate case filing (GRC-Track 1). - We expect the effects of this decision to improve the company's consolidated financial performance, with funds from operations (FFO) to debt approaching 17% by 2023, providing cushion above the company's current downgrade threshold. - Furthermore, we expect the company to gradually improve its business risk over time, mostly through effective regulatory risk management, and steady operational improvements in its wildfire mitigation practices. - Taken together, we revised our outlooks to stable from negative on Edison and SCE and affirmed the ratings. - The stable outlooks on Edison and SCE reflect our expectations of steady improvement to the parent company's consolidated financial measures, effective regulatory risk management, and ongoing progress in the company's wildfire mitigation practices....
