The 'BBB-' corporate credit rating for Rosemead, Calif.-based utility holding company Edison International (EIX) reflects the consolidated credit quality of EIX's family of companies. EIX's consolidated debt outstanding totaled $11.6 billion as of Sept. 30, 2009. These companies consist of: Regulated electric utility Southern California Edison Co. (SCE; 'BBB+/Stable/A-2'), which represents approximately 73% of consolidated EIX assets, 62% of consolidated debt, and about 74% of funds from operations (FFO). Edison Mission Energy (EME; 'B/Negative/--'), which operates merchant coal, gas, and wind assets, represents about 20% of the consolidated EIX assets, 35% of consolidated debt, and 33% of FFO. (In turn, EME owns Edison Mission Marketing and a power marketing and trading subsidiary). Edison Funding Capital, which holds minimal investments in
