I have two bond positions in Edison Mission Energy (EME) in my Etrade account. It's rated B- by S&P and Caa1 by Moody's. According to the bond entry for EME in Etrade, EME's parent company is Edison International which trades under EIX on the stock exchange. Looking at the S&P report for EIX, however, S&P rates them BBB- versus B- for the Edison Mission Energy bond. Why the difference? Does that mean that if Edison Mission Energy has problems, EIX won't pay off bondholders? I didn't think that was possible.
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