Research Update: Edison International And Subsidiary Southern California Edison 'BBB' Ratings Remain On CreditWatch Negative

Earlier this month as part of our ongoing credit surveillance efforts S&P Global Ratings met with several California officials to gain more insight into the possible trajectory of California's regulatory construct for investor-owned electric utilities. On March 18, 2019, we kept our ratings on Edison International (Edison) and its subsidiary, Southern California Edison Co. (SCE), on CreditWatch with negative implications, including the 'BBB' issuer credit ratings on the companies. We had placed the ratings on CreditWatch on Jan. 21, 2019. From our perspective, there appears to be heightened interest on the part of various California officials to take action, possibly in the near term, to address the financial risks that wildfires may pose to California electric utilities, which could potentially

...+ Earlier this month as part of our ongoing credit surveillance efforts S&P Global Ratings met with several California officials to gain more insight into the possible trajectory of California's regulatory construct for investor-owned electric utilities. + On March 18, 2019, we kept our ratings on Edison International (Edison) and its subsidiary, Southern California Edison Co. (SCE), on CreditWatch with negative implications, including the '###' issuer credit ratings on the companies. We had placed the ratings on CreditWatch on Jan. 21, 2019. + From our perspective, there appears to be heightened interest on the part of various California officials to take action, possibly in the near term, to address the financial risks that wildfires may pose to California electric utilities, which could potentially lead to a stronger regulatory construct for electric utilities in California. However, the CreditWatch with negative implications on Edison and SCE reflects that we may downgrade the company...

Research Update