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Fitch rates Southern California Edison bonds BBB+
Fitch Ratings said it assigned a BBB+ rating to Southern California Edison Co.'s first and refunding mortgage bonds.
The rating is the same as Fitch’s for the issuer’s other first and refunding mortgage bonds.
The proceeds will be used to fund the payment of wildfire claims above the amount of expected insurance proceeds. The company will also use proceeds to repay commercial paper used to fund the payment of wildfire claims.
On May 4, the agency revised Southern California Edison’s outlook to positive from stable.
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