Research Update: Edison International And Subsidiary Southern California Edison 'BBB+' Ratings Affirmed; Outlook Stable

We have revised our financial risk profile (FRP) assessment for Edison International (EIX) and subsidiary Southern California Edison (SCE) to "significant" from "intermediate" based on our forecast of weaker metrics due to rising power purchase obligations and regulatory lag. We have affirmed our 'BBB+' long-term corporate credit rating and other ratings on both entities. The outlook remains stable. The "comparable risk analysis" modifier is now "neutral". We had used the modifier to account for EIX's and SCE's lower standing in the previous FRP category. The stable outlook reflects our anticipation that the regulatory settlement covering the closure of the San Onofre nuclear plant will not be upset and no significant fines or other repercussions from the company's admissions of possible

...We have revised our financial risk profile (FRP) assessment for Edison International (EIX) and subsidiary Southern California Edison (SCE) to "significant" from "intermediate" based on our forecast of weaker metrics due to rising power purchase obligations and regulatory lag....

Research Update