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Westar Energy's Ratings Affirmed; $250 Mil. First Mortgage Bonds Rated 'BBB-' Jun 04 Product Image

Westar Energy's Ratings Affirmed; $250 Mil. First Mortgage Bonds Rated 'BBB-' Jun 04

  • ID: 2040875
  • June 2004
  • Standard & Poors

FEATURED COMPANIES

  • Kansas Gas & Electric Co.
  • Westar Energy Inc.
  • MORE

Abstract
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

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.

- Westar Energy Inc.
- Kansas Gas & Electric Co.
- Protection One Alarm Monitoring Inc.

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