Summary: Westar Energy Inc. Sep 06
Standard & Poors, September 2006
Abstract
The ratings on Westar Energy Inc. and subsidiary Kansas Gas & Electric Co. (KG&E) reflect a satisfactory consolidated business profile of '5' (business profiles are categorized from '1' (excellent) to '10' (vulnerable)), based on the corporation's vertically integrated electric utility operations in Kansas, and an improving financial profile. The Topeka, Kan.-based company has taken significant actions in recent years to reduce its business risk and strengthen its leveraged balance sheet. Westar made a commitment to the Kansas Corporation Commission (KCC) to fully execute a dramatic debt-reduction plan, and focus exclusively on its integrated electric business. After fully executing its plan, management filed a rate case in May 2005. On Dec. 28, 2005, the KCC authorized a total increase of only...
Companies mentioned in this report are: Westar Energy Inc.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Westar Energy Inc.
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