S&P; Raises Ratings for Edison International
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Edison International’s credit ratings were raised five levels by Standard & Poor’s on expectations the utility owner would be able to repay debt after recovering from the California energy crisis.
The ratings were raised to BB-plus, one level below investment grade. S&P; cut the ratings to junk status in January 2001 as Rosemead-based Edison racked up billions of dollars in debt.
The news was released after the close of regular trading. Shares of Edison rose 4 cents to $21.09 on the New York Stock Exchange.
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