Fitch: Edison International on positive watch

Fitch ratings said it placed the credit ratings of Edison International, including the BB issuer default rating, and its wholly owned utility operating subsidiary, Southern California Edison (SCE) on rating Watch positive.

Fitch said it has also listed Edison's unregulated intermediate holding companies Mission Energy Holding Co. and Edison Mission Energy and their unregulated generation subsidiary Midwest Generation Co. on positive watch.

The ratings of Edison Funding, including the issuer default rating at BB and senior unsecured at BB, are not affected by the rating action.

The Rating Watch status recognizes rising cash flows, debt repayment, enhanced liquidity and more favorable operating fundamental at EIX's core electric utility and merchant power operating businesses, Fitch noted.

Affected ratings include Southern California Edison's issuer default rating at BBB-, senior secured at BBB+, senior unsecured at BBB, preferred at BBB-; Mission Energy's issuer default rating at B, senior secured at B-, recovery rating at RR5; Edison Mission Energy's issuer default rating at B, senior unsecured at B, recovery rating at RR4 and Midwest Generation's issuer default rating at B, secured first-priority lien term loan at BB, recovery rating at RR1, second-priority lien secured notes at B+ and recovery rating of RR3.

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