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Bulletin: Westar Energy's $100 Million Stock Issuance Supports Credit Quality Jul 07
Standard & Poors, July 2007
Abstract
NEW YORK (Standard & Poor's) July 18, 2007--Standard & Poor's Ratings Services said today that the issuance of $100 million of common stock by Westar Energy Inc. (BBB-/Stable/--) will help to maintain capital structure balance during the company's prospectively heavy construction program, but will not affect current ratings. The rapidly accelerating capital spending focuses on installation of generating units, additions and improvements to transmission and distribution facilities, and environmental compliance. The proceeds have been used to repay debt under the company's revolving credit facility, fund construction outlays, and for general corporate purposes. Standard & Poor's expected the common equity sale and associated deleveraging, and already factored it into Westar Energy's relatively recent upgrade to investment-grade status and stable outlook....
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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