Edison Chief Warns Junk Rating is Imminent

Edison Chief Warns Junk Rating is Imminent (12:52 p.m.)

Edison International’s chief executive said the utility owner’s credit could be downgraded to junk within months unless California comes up with a fix to wildfire liability issues that forced PG&E Corp. to file for bankruptcy.
At the same time, another year of catastrophic fires could prove fatal for the Southern California utility giant, Edison CEO Pedro Pizarro said Thursday on the sidelines of the CERAWeek by IHS Markit conference in Houston.
“We do not face the risk of bankruptcy based on the prior events of 2017 and 2018,” he said. “The risk for all of us is what happens ahead.”