ENERGY

S&P; Backs Edison: Standard & Poor’s said it has affirmed the ratings on several debt issues of Southern California Edison and one of its subsidiaries, SCE Capital. The rating agency also said it has revised Edison’s outlook from negative to stable. The change reflected a $42-million rate increase recently authorized by the California Public Utilities Commission. “This award should be sufficient to maintain the utility’s strong financial position given expectations that the company will be successful in containing costs,� S&P; said.