Regulated electric utility that provides electricity to customers in western Missouri Relatively stable cash flows from regulated electric operations Low-cost generation Generally supportive regulatory framework Capital spending remains mostly steady Some variability in cash flow due to regulatory lag, though this is somewhat mitigated by rate surcharges Financial measures have improved somewhat, but are still in line with our assessment of the financial risk profile Continuing commitment to credit quality and maintenance of a balanced capital structure Our stable rating outlook on Great Plains Energy Inc. (GPE) and utility subsidiary KCP&L Greater Missouri Operations Co. (GMO) reflects our expectation that management will continue to focus on core utility operations and reach constructive regulatory outcomes to avoid any weakening of the
