Fitch lowers Edison view to negative

Fitch Ratings said it affirmed the long- and short-term issuer default ratings of Edison International and core operating utility subsidiary, Southern California Edison Co., at BBB+.

The outlooks on both companies were revised to negative from stable.

The ratings reflect the companies' solid credit metrics in the face of significant third-party liabilities related to catastrophic 2017 and 2018 wildfires, Fitch said.

The ratings also consider the liabilities associated with the 2017 Montecito mudslides, the agency said.

The negative outlooks also take into account uncertainty regarding a legislative solution to put 2018 wildfire-related costs on the same footing as 2017 wildfires and heightened business and regulatory risk in light of recent acceleration of catastrophic wildfire activity, Fitch said.

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