Edison International's Wildfire Securitization to Reshape Risk Profile and Valuation

Edison International has filed to securitize $1.951b in wildfire-related expenses, shifting qualified wildfire costs into a dedicated financing structure. This move aims to reduce reported debt and free up room for future grid and mitigation investment. California policymakers are preparing wildfire mitigation policy reforms expected later this year, which may affect Edison International's risk profile and capital structure.