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BULLETIN: Westar Energy Resolves Issues Related to Protection One Sale; No Effect on Rating Nov 04
Standard & Poors, Nov 2004
Abstract
NEW YORK (Standard & Poor's) Nov. 16, 2004--Standard & Poor's Ratings Services said today that Westar Energy Inc.'s (BB+/Positive/--) resolution of all remaining issues with Protection One and affiliates of Quadrangle Group, the purchaser of Westar's 88% stake in Protection One, was largely incorporated into the current ratings. As a result of the settlement, Westar expects to realize an after-tax earnings gain of about $70 million in the fourth quarter. The agreement resolves lingering uncertainties, as well as the release of all outstanding claims by Protection One, and therefore is supportive of credit quality. However, higher ratings for Westar will depend importantly on the company's achieving and sustaining cash flow measures that are solidly investment-grade quality....
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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