Regulated electric utility Kansas City Power&Light Co. (KCP&L) provides electricity in the greater Kansas City, Mo. metropolitan area. Relatively stable cash flows come from regulated electric operations. The regulatory framework in Kansas and Missouri is generally supportive. Capital spending is declining. We expect financial measures to strengthen within the significant financial risk profile assessment. The company is committed to credit quality and maintaining a balanced capital structure. The outlook on KCP&L reflects the outlook on parent Great Plains Energy Inc. (GPE). The negative outlook on GPE and its subsidiaries reflects the potential for lower ratings if GPE's financial risk profile, which will deteriorate due to the financing used in the proposed acquisition of Westar Energy Inc., does not
