Low-risk electric utility operations Good mix of mostly residential and commercial customers Uncertainties surrounding bankruptcy of former merchant energy subsidiary weighs on credit profile Little additional debt at the parent Stable credit protection measures with slight downward trend Adequate liquidity Standard&Poor's Ratings Services views energy holding company Edison International's (EIX) business risk profile as "strong" based on its ownership of electric utility Southern California Edison Co. (SCE; BBB+/Stable/A-2) and its continued entanglement with Edison Mission Energy (EME; D/--/--), which is currently operating under the protection of the U.S. Bankruptcy Code. Our ratings on EIX reflect SCE's business profile, which we deem "aggressive" as defined in our criteria, despite the regulatory insulation that limits the parent's access to the
