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Bulletin: Westar Energy Inc.'s Planned Issuance Of Stock Does Not Affect Ratings Nov 07
Standard & Poors, Nov 2007
Abstract
NEW YORK (Standard & Poor's) Nov. 14, 2007--Standard & Poor's Ratings Services today noted that the planned issuance of about $187 million of common stock by Westar Energy, Inc. (BBB-/Stable/--) will help to maintain capital structure balance during the company's heavy construction program, but will not affect current ratings. An over-allotment option, if exercised will bring the total common stock issuance to roughly $215 million. The rapidly accelerating capital expenditures concentrate on installation of generating units, and improvements to transmission and distribution facilities, and environmental compliance. The proceeds will be used to repay short-term debt, fund construction outlays, and for general corporate purposes. The proposed common equity sale and associated deleveraging was expected by Standard & Poor's and already factored...
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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