Kansas Gas & Electric Co. May 09
Standard & Poors, May 2009
Abstract
Mostly rate regulated integrated utility; Gradual improvement of regulatory risk; and Supportive rate-making mechanisms. Near-term reduced sales growth due to the economic recession; Large capital expenditures; and Reliance on the 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. The Topeka, Kan.-based Westar has about $2.6 billion of total debt outstanding. Westar distributes electricity to approximately 679,000 customers in Kansas. The company also generates approximately 6,500 MW of electricity, using a fuel mix of about 79% coal and 13% nuclear. The excellent business profile primarily reflects a mostly regulated integrated utility that has...
Companies mentioned in this report are: Kansas Gas & Electric Co.,Westar Energy Inc.
Action: Review
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: Full Analysis
Kansas Gas & Electric Co.,Westar Energy Inc.
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