The rating on KCP&L Greater Missouri Operations Co. (GMO) reflects Great Plains Energy Inc.'s consolidated credit profile. The ratings also reflect GMO's excellent business risk profile and aggressive financial risk profile. Great Plains' subsidiaries include Kansas City Power&Light Co. (KCP&L) and GMO. As of Dec. 31, 2010, Great Plains had about $3.8 billion of total debt outstanding. The excellent business risk profile reflects the company's regulated electric utility strategy. GMO and KCP&L are integrated rate-regulated electric utilities that serve about 823,000 customers in Missouri and Kansas and operate approximately 6,600 megawatts (MW) of electricity generation, of which about 80% is from coal plants and 17% from nuclear. We assess Missouri's regulatory environment as less credit supportive and Kansas's
