Kansas Gas & Electric Co. Feb 09
- ID: 2041193
- February 2009
- Region: Kansas
- Standard & Poors
Mostly regulated integrated utility; Recent constructive regulatory settlement; and Supportive rate-making mechanisms. Large capital expenditures concurrent with the economic recession; Weak cash flow measures; and Reliance on the current volatile capital markets. The ratings on Kansas Gas & Electric Co. (KG&E) are based on parent Westar Energy Inc. consolidated credit profile. The ratings also reflect the KG&E's excellent business profile and Westar's aggressive financial profile. As of Sept. 30, 2008, the Topeka, Kan.-based Westar had about $2.3 billion of total debt outstanding. Westar distributes electricity to approximately 675,000 customers in Kansas. The company also generates approximately 6,500 MW of electricity, using a fuel mix of about 80% coal and 14% uranium. The excellent business profile primarily reflects a mostly regulated...
Companies mentioned in this report are:
- Kansas Gas & Electric Co.
- Westar Energy Inc.
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