Westar Energy's Ratings Affirmed; $250 Mil. First Mortgage Bonds Rated 'BBB-' Jun 04
- ID: 2040875
- June 2004
- Standard & Poors
NEW YORK (Standard & Poor's) June 15, 2004--Standard & Poor's Ratings Services today affirmed its 'BB+' corporate credit rating on Kansas-based electric generation and transmission company Westar Energy Inc. and subsidiary Kansas Gas & Electric Co. The outlook is positive. At the same time, Standard & Poor's assigned its final 'BBB-' rating to Westar's $250 million first mortgage bonds, which were previously filed under a Rule 415 shelf registration. Net proceeds will be used primarily to repay outstanding debt and for working capital and other general corporate purposes. "Westar's average business profile reflects the disposal of the unregulated monitored security businesses, including its February 2004 sale of its 87% stake in Protection One Alarm Monitoring Inc., and a new senior...
Companies mentioned in this report are:
- Westar Energy Inc.
- Kansas Gas & Electric Co.
- Protection One Alarm Monitoring Inc.
Action: New Rating
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Research type: News
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