(Editor's note: In the press release issued earlier today, the commercial paper's due date was misstated. It was Jan. 18. A corrected version follows.) NEW YORK (Standard&Poor's CreditWire) Jan. 19, 2001--Standard&Poor's today lowered its commercial paper rating on Southern California Edison Co. (SoCalEd) to 'D' from 'C' following the company's failure to redeem $32 million of maturing commercial paper due Jan. 18, 2001. SoCalEd also announced its intention to suspend payment on $223 million of commercial paper coming due between today and the end of January. This decision was taken pending further developments in the energy and liquidity crisis affecting the California utilities. Also, Standard&Poor's has corrected the short-term corporate credit rating of SoCalEd's
