Fitch rates Southern California Edison bonds A+

Fitch Ratings said it assigned an A+ and F1 rating to Southern California Edison Co.'s $300 million offering of floating-rate first- and refunding-mortgage bonds, series 2014A, due 2015.

The proceeds will be used to repay commercial paper and for general corporate purposes.

The outlook is stable.

The ratings reflect the company's strong and relatively predictable utility earnings and cash flows, Fitch said, along with a balanced regulatory compact in the state of California.

The ratings also consider its tiered rate structure and long-term concerns about competitive inroads from alternative energy supply, the agency said.

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