Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative

The Missouri Public Service Commission (MPSC) recently authorized Evergy Inc. subsidiary Evergy Missouri West Inc. to increase its revenue requirement by about $30 million to recover capital investments and expenses it has incurred since 2018. In addition, in October 2022, Evergy Missouri West received approval to issue about $300 million of securitization financing to refund it for the extraordinary fuel and purchased power costs incurred during the severe winter storm of February 2021. We affirmed all of our ratings on Evergy Missouri West, including our 'A-' long-term issuer credit rating, our 'A-2' short-term and commercial paper ratings, and our 'A' issue-level rating and '1+' recovery rating on its senior secured debt. The ratings outlook remains negative. The negative outlook on

...December 15, 2022 - The Missouri Public Service Commission (MPSC) recently authorized Evergy Inc. subsidiary Evergy Missouri West Inc. to increase its revenue requirement by about $30 million to recover capital investments and expenses it has incurred since 2018. - In addition, in October 2022, Evergy Missouri West received approval to issue about $300 million of securitization financing to refund it for the extraordinary fuel and purchased power costs incurred during the severe winter storm of February 2021. - We affirmed all of our ratings on Evergy Missouri West, including our 'A-' long-term issuer credit rating, our 'A-2' short-term and commercial paper ratings, and our 'A' issue-level rating and '1+' recovery rating on its senior secured debt. The ratings outlook remains negative. - The negative outlook on Evergy Missouri reflects the negative outlook on parent, Evergy Inc. This is consistent with our assessment of Evergy Missouri as a core subsidiary of parent Evergy. We expect that...

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