Moody’s changes Edison view

Moody's Investors Service said it affirmed the ratings of Edison International, including its Baa3 senior unsecured rating, and the ratings of its principal subsidiary Southern California Edison Co., including its Baa2 senior unsecured rating.

The outlook was changed to stable from negative.

"With the establishment of insurance-like fund as a part of the recently enacted wildfire mitigation legislation AB 1054, we expect SCE's future wildfire liabilities will be capped," Toby Shea, Moody’s vice president and senior credit officer, said in a news release.

“We view this liability cap, along with a more favorable prudency standard put in place, to be sufficient to stabilize Edison and SCE's credit profiles."

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