Fitch gives Southern California Edison bonds BBB+

Fitch Ratings said it assigned a BBB+ rating to Southern California Edison Co.'s issuance of first and refunding mortgage bonds.

The long-term issuer default rating is BBB- and the outlook is stable.

“The rating and stable outlook reflect credit supportive elements of Assembly Bill (AB) 1054 and several subsequent developments, including confirmation by all three large California investor-owned utilities (IOUs) of their intent to participate in the wildfire insurance fund, receipt of SCE's initial safety certificate and management commitment to fund near-term capital requirements with substantial parent-level common equity,” the agency said in a news release.

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