Research Update: Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative - S&P Global Ratings’ Credit Research

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

Research Update: Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative
Published Dec 15, 2022
6 pages (2486 words) — Published Dec 15, 2022
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About This Report

  
Abstract:

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

  
Brief Excerpt:

...- 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 Evergy Missouri's...

  
Report Type:

Research Update

Ticker
ILA
Issuer
GICS
Multi-Utilities (55103010)
Sector
Global Issuers
Country
Region
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative" Dec 15, 2022. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Evergy-Missouri-West-Inc-Ratings-Affirmed-On-Approved-Cost-Recovery-Outlook-Negative-2929939>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Evergy Missouri West Inc. Ratings Affirmed On Approved Cost Recovery, Outlook Negative Dec 15, 2022. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Evergy-Missouri-West-Inc-Ratings-Affirmed-On-Approved-Cost-Recovery-Outlook-Negative-2929939>
  
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