Kansas Gas&Electric Co. Assigned 'A-2' Short-Term Rating

NEW YORK (S&P Global Ratings) Dec. 10, 2018-- S&P Global Ratings today assigned its 'A-2' short-term issuer credit rating to U.S. utility company Kansas Gas&Electric Co. (KGE). We base our rating on our long-term issuer credit rating of 'A-' on the company. We assess KGE to be a core subsidiary of Evergy Inc. (A-/Stable/A-2), reflecting our view that KGE is successful and a significant contributor to the group, is highly unlikely to be sold, is integral to the overall group strategy, and has a strong long-term commitment from senior management. There are no meaningful insulation measures in place that protect KGE from its parent and, therefore, our issuer credit rating on KGE is in line with Evergy's group

...NEW YORK (S&P Global Ratings) Dec. 10, 2018-- S&P Global Ratings today assigned its 'A-2' short-term issuer credit rating to U.S. utility company Kansas Gas & Electric Co. (KGE). We base our rating on our long-term issuer credit rating of 'A-' on the company. We assess KGE to be a core subsidiary of Evergy Inc. (A-/Stable/A-2), reflecting our view that KGE is successful and a significant contributor to the group, is highly unlikely to be sold, is integral to the overall group strategy, and has a strong long-term commitment from senior management. There are no meaningful insulation measures in place that protect KGE from its parent and, therefore, our issuer credit rating on KGE is in line with Evergy's group credit profile of 'a-'. For the issuer credit rating rationale, see the research update on Evergy published July 19, 2018. RELATED CRITERIA + Criteria - Corporates - General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 + General Criteria: Methodology For...

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