Research Update: Kansas Gas & Electric's $320 Million Bonds Rated 'BB-'; CCR Affirmed At 'BB+' Jun 05
- ID: 2040419
- June 2005
- Region: Kansas
- Standard & Poors
On June 21, 2005, Standard & Poor's Ratings Services affirmed its 'BB+' corporate credit ratings on electric generation and transmission company Westar Energy Inc. and its subsidiary Kansas Gas & Electric Co. (KG&E). At the same time, Standard & Poor's assigned its 'BB-' rating to KG&E's $320 million secured facility bonds series 2005 due 2021. The outlook remains positive. As of March 31, 2005, the Topeka, Kan.-based company had $1.5 billion of consolidated long-term debt outstanding. The ratings on KG&E reflect Westar's consolidated credit profile, which includes a business profile based on the core vertically integrated electric utility operations in Kansas and a weak but improving financial profile. The company has taken significant actions during the past two years to...
Companies mentioned in this report are:
- Kansas Gas & Electric Co.
- Westar Energy Inc.
Action: New Rating
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >