Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 78

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 78
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25% senior notes due in 2030. For further details, see "Notes to Condensed Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

At June 30, 2025, Edison International Parent and Other had cash on hand of $63 million and $1.3 billion available to borrow on its $1.5 billion revolving credit facility. The credit facility is available for borrowing needs until May 2029. The aggregate maximum principal amount under the Edison International Parent revolving credit facility may be increased up to $2.0 billion, provided that additional lender commitments are obtained. For further information, see "Notes to Condensed Consolidated Financial Statements—Note 5. Debt and Credit Agreements."

Edison International Parent and Other's liquidity and its ability to pay operating expenses and pay dividends to preferred and common shareholders are dependent on access to the bank and capital markets, dividends from SCE, realization of tax benefits and its ability to meet California law requirements for the declaration of dividends. For information on the California law requirements on the declaration of dividends, see "Notes to Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies—SCE Dividends" in the 2024 Form 10-K. Edison International intends to maintain its target payout ratio of 45% – 55% of SCE's core earnings, subject to the factors identified above.

Edison International's ability to declare and pay common dividends may be restricted under the terms of its Series A and Series B Preferred Stock. For further information, see "Notes to Consolidated Financial Statements—Note 14. Equity" in the 2024 Form 10-K.

Edison International Parent's credit facility requires a consolidated debt to total capitalization ratio as defined in the applicable agreements of less than or equal to 0.70 to 1. At June 30, 2025, Edison International's consolidated debt to total capitalization ratio was 0.64 to 1.

At June 30, 2025, Edison International Parent was in compliance with all financial covenants that affect access to capital.

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The following table summarizes Edison International Parent's current long-term issuer credit ratings and outlook from the major credit rating agencies as of July 24, 2025:

Moody'sFitchS&PCredit RatingBaa2BBBBBBOutlookStableWatch NegativeNegative

Edison International Parent's credit ratings may be affected by various factors. These include, but are not limited to, failure by regulators