Overview Key strengths Key risks Regulated, vertically integrated electric utility. Fossil fuel- and nuclear-based generation exposure. Robust financial measures. Limited geographic and regulatory diversity. The company?s long-term debt maturities are manageable, with no debt maturities through 2026. Given this, as well as our expectation that it will not issue long-term debt through 2026, we expect its financial measures will remain strong. The stable outlook on Kansas South reflects our stable outlook on ultimate parent Evergy Inc. (Evergy), which reflects our expectation that Evergy?s financial measures, specifically funds from operations (FFO) to debt, will remain consistently above our downgrade threshold, albeit with a minimal financial cushion. Our base-case forecast assumes FFO to debt of 14%-15% through 2025. We could lower our
