Moody௿½s lowers senior unsecured debt rating of Southern California Edison

The rating action follows today௿½s 8-K filings by Southern California Edison and Edison International that Southern California Edison Company had temporarily suspended payment on a $200 million principal repayment of unsecured notes due January 16, 2001 and the payment of approximately $30 million of associated interest.

Jan. 16, 2001–Good things do not come to those who wait: While San Diego was battling a massive press blitz on the skyrocketing prices, those utilities in the rate freeze (namely PG&E and Southern California Edison) piled red numbers atop of red numbers trapped between an open market price for the power they had to purchase and a rate freeze for the consumers they are required to serve. While SDG&E may have gotten the brunt force of the bad lip service, it was the other major California utilities that were burdened with debt.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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