Fitch lifts Edison International from junk

Fitch Ratings said it upgraded Edison International Inc.'s issuer default rating to BBB- from BB and removed it from rating watch positive, where it was placed March 10. The agency also upgraded the issuer default rating and senior unsecured ratings of Edison Funding, a subsidiary of Edison Capital to BBB- from BB.

The outlook is stable.

The upgrade reflects Edison's significantly improved liquidity position and credit metrics, driven primarily by the enhanced financial condition of subsidiaries Southern California Edison Co. and Edison Mission Group, the agency said. Edison is wholly dependent on cash distributions from the companies to o meet its obligations.

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