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BULLETIN: Westar Energy's Expected Common Stock Issuance Is Supportive of Credit Quality Mar 04
Standard & Poors, March 2004
Abstract
NEW YORK (Standard & Poor's) March 10, 2004--Standard & Poor's Ratings Services said today that Westar Energy Inc.'s (BB+/Positive/--) expected common stock issuance will enhance the company's frail financial profile. Westar has filed a Rule 415 shelf registration to offer up to 14 million shares for a total potential offering of approximately $280 million at current trading levels of $20 per share. The shelf filing also encompasses $900 million of debt securities. The proceeds from future common stock and debt issuances will be used to repay outstanding debt. The positive outlook on Westar incorporates Standard & Poor's expectation for credit improvement through balance sheet improving initiatives, such as common stock sales. The extent of financial improvement will hinge importantly on...
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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