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BULLETIN: Westar Energy's Rate Increase Is Insufficient For Upgrade Jan 06
Standard & Poors, Jan 2006
Abstract
NEW YORK (Standard & Poor's) Jan. 3, 2006--Standard & Poor's Ratings Services said today that the Kansas Corporation Commission's (KCC) recent authorization of a $3 million (0.3%) overall base rate increase for Westar Energy Inc. (BB+/Positive/--) will not lift the company's financial metrics to levels suitable for investment-grade ratings at this time; therefore, the ratings on the company remain unchanged. The KCC's authorization falls significantly short of the company's $84 million (7.8%) requested rate hike. It is likely that Westar will ask the KCC for reconsideration, which the company must do by Jan. 16, 2005. The KCC will have 30 days to evaluate the request for reconsideration and may render a decision within the 30 days, though its is not...
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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