Fitch affirms Edison, SCE

Fitch Ratings said it affirmed the long- and short-term issuer default ratings of Edison International and its core operating utility subsidiary Southern California Edison Co. at BBB- and F3, respectively, and removed them from rating watch negative.

The outlook is negative.

“The rating affirmation reflects credit supportive elements of recently enacted legislation, Assembly Bill (AB) 1054,” the agency said in a news release.

“Among other things, AB 1054 creates an insurance fund to cushion utilities from potential wildfire exposure while the state develops and implements measures designed to reduce the severity and frequency of catastrophic wildfires.”

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