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BULLETIN: Westar Energy's Protection One Sale Is Supportive of Credit Quality Feb 04
Standard & Poors, Feb 2004
Abstract
NEW YORK (Standard & Poor's) Feb. 18, 2004--Standard & Poor's Ratings Services said today that the ratings on Westar Energy Inc. (BB+/Positive/--) and subsidiary Kansas Gas & Electric Co. (BB+/Positive/--) would not be affected by the closing of the company's sale of its 88% stake in Protection One Inc. The sale, which was expected to close this quarter and already factored into current ratings, completes the process of selling all significant nonregulated assets and returns the company to a pure vertically integrated electric utility. The sale enables Westar to reduce its heavy debt burden, but will still require common stock issuances to achieve investment-grade ratings....
Companies mentioned in this report are: Westar Energy Inc.,Kansas Gas & Electric Co.
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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