The issuer credit rating on Edison International (EIX) reflects the group credit profile of 'BBB-', which is derived from: A country risk score that we consider "very low risk" because all operations are carried out in the U.S; An industry risk score that we consider "very low risk", reflecting the low risk nature of the regulated electric utility operations that constitute the bulk of EIX's business activities; EIX's "excellent" business risk profile and its "significant" financial risk profile; and Lingering entanglement with Edison Mission Energy (EME), which is currently operating under the protection of the U.S. Bankruptcy Code. This lowers our assessment of the company's financial policy by raising the possibility of greater leverage than our base forecast due to
