Fitch Upgr Orange County Educational Pool; Edison Intl Payment.Business Editors NEW YORK--(BUSINESS WIRE)--July 18, 2001 Fitch upgrades the `AA/V1+' local government investment pool (LGIP LGIP Local Government Investment Pool ) rating of the Orange County Treasurer's Money Market Educational Investment Pool (the pool) to `AAA/V1+' and removes the new `AAA/V1+' rating from Rating Watch Evolving. These rating actions reflect the full payment of principal and interest, as scheduled, of the pool's position in $20 million of medium-term notes Medium-term note (MTN) A corporate debt instrument that is continuously offered to investors over a period of time by an agent of the issuer. Investors can select from maturity bands of: 9 months to 1 year, more than 1 year to 18 months, more than 18 months to 2 years, etc. (MTN MTN A short-form for Medium Term Note. MTN Medium term notes issued by corporations, much like shorter-term commercial paper. MTN See medium-term note (MTN). ) issued by Edison International Edison International (NYSE: EIX) is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and un-regulated non-utility assets Edison Mission Energy, a power producer, and Edison Capital. (Edison), which represented 1.35% of the portfolio as of June 30, 2001. Edison MTN is currently rated `CC' by Fitch. The `AAA/V1+' rating reflects the improved credit quality of the pool's portfolio with the removal of the Edison MTN and the fact that the pool continues to be invested in high-quality assets. |
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