Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Edison Funding Co. > News item |
S&P affirms Edison Funding
Standard & Poor's said it affirmed its ratings on Edison Funding Co., including its counterparty credit rating of BB+/B.
The outlook remains negative.
The agency noted that Edison Funding is a wholly owned, unregulated subsidiary of Edison Capital, a subsidiary of Edison Mission Group Inc., which is in turn a wholly owned subsidiary of Edison International (BBB-/stable).
S&P added that the affirmation reflects its belief that although Edison International's recent nonbinding agreement with the Internal Revenue Service to settle outstanding tax liabilities of $1.6 billion will significantly weaken financial performance at Edison Funding, Edison International has the financial capacity and incentive to support liquidity as needed, despite the absence of a formal support agreement.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.