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Bulletin: Westar Energy Inc.'s Planned Issuance Of Stock Does Not Affect Ratings Jun 08
Standard & Poors, June 2008
Abstract
NEW YORK (Standard & Poor's) June 2, 2008--Standard & Poor's Ratings Services today noted that the recent offering of about $145 million of common stock by Westar Energy Inc. (BBB-/Stable/--) will help to maintain capital structure balance during the company's heavy construction program, but will not affect current ratings. An over-allotment option, if exercised, will bring the total common stock issuance to roughly $168 million. Accelerating capital expenditures concentrate on installation of generating units, improvements to transmission and distribution facilities, and environmental compliance. The proceeds will be used to repay short-term debt that was incurred to fund construction outlays and for general corporate purposes. A common equity sale and associated deleveraging was expected by Standard & Poor's and already factored...
Companies mentioned in this report are: Westar Energy Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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