Bulletin: Westar Energy Inc. Ratings And Outlook Unaffected By Petition For Reconsideration Of Merger Order

NEW YORK (S&P Global Ratings) May 4, 2017--S&P Global Ratings said today that its ratings on Westar Energy Inc. (BBB+/Negative/A-2) are not affected by the joint petition by Great Plains Energy Inc. and Westar Energy Inc. for reconsideration of the Kansas Corp. Commission's (KCC) order rejecting the merger between these two companies. The outlook on Westar remains negative reflecting the potential for lower ratings if the merger closes and the combined company's financial performance weakens. We will continue to monitor for any KCC response to the joint petition. If the transaction is not completed, our ratings on Westar will likely be unchanged, reflecting an excellent business risk profile and a significant financial risk profile. Our base-case scenario indicates that Westar

...NEW YORK (S&P Global Ratings) May 4, 2017--S&P Global Ratings said today that its ratings on Westar Energy Inc. (###+/Negative/A-2) are not affected by the joint petition by Great Plains Energy Inc. and Westar Energy Inc. for reconsideration of the Kansas Corp. Commission's (KCC) order rejecting the merger between these two companies. The outlook on Westar remains negative reflecting the potential for lower ratings if the merger closes and the combined company's financial performance weakens. We will continue to monitor for any KCC response to the joint petition. If the transaction is not completed, our ratings on Westar will likely be unchanged, reflecting an excellent business risk profile and a significant financial risk profile. Our base-case scenario indicates that Westar Energy's funds from operations to debt will be around 19% over the next few years. Only a rating committee may determine a rating action and this report does not constitute a rating action....

Bulletin