Report title: Credit Analysis: Westar Energy Inc. and Kansas Gas & Electric Co.
from Fitch Research
4 page (2595 word) report published Jul 27, 2007

Price $425.00 available for immediate download
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...Westar Energy (WR) and Kansas Gas and Electric Company s (KG&E) ratings reflect significant consolidated WR debt reduction and an improved business risk profile as the result of restructuring activity in recent years, competitive regional rates and a conservative, utility-focused strategy. WR and KG&E s ratings are the same and reflect the companies centralized operations and treasury functions. KG&E provides regulated electric service under the WR brand name and is functionally integrated with the parent s utility operations. KG&E also relies on WR for its short-term cash needs. WR s revolving credit facility is secured by KG&E s first-mortgage bonds. In addition, no regulatory or corpor ate structures are currently in place to restrict the migration of cash between parent and subsidiary. WR and KG&E s ratings also assu me efficient execution and timely recovery of planned capital expenditu res with a reasonable return on investment and that new money financing will...

Report Type: Full Rating Report
Company(ies): Kansas Gas & Electric Company, Westar Energy, Inc.
Ticker(s): WR
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