Tear Sheet: Evergy Inc. Rate Case Settlement As Filed Could Weaken Credit Quality

Evergy Inc . subsidiaries Evergy Kansas Central Inc. (EKC) and Evergy Metro Inc. (Metro) along with the other parties to its Kansas rate case recently filed a unanimous settlement with the Kansas Corporation Commission (KCC). If the KCC authorizes a rate case increase in line with the settlement, this would result in a net rate increase of $74 million for EKC and a net decrease of $32.9 million for Metro, as compared with the initial request of a net increase of $204 million and $14 million, respectively. Other parties to the settlement include the KCC staff, the Citizens Utility Ratepayer Board, and several groups representing commercial, industrial, and educational interests. If adopted, the rate changes could weaken Evergy?s credit quality.

...Foreign currency issuer credit rating A-/Negative/A-2 Local currency issuer credit rating A-/Negative/A-2 Business risk Excellent Country risk Very Low Industry risk Very Low Competitive position Strong Financial risk Significant Cash flow/leverage Significant Anchor a- Diversification/portfolio effect Neutral (no impact) Capital structure Neutral (no impact) Financial policy Neutral (no impact) Liquidity Adequate (no impact) Management and governance Satisfactory (no impact) Comparable rating analysis Neutral (no impact) Stand-alone credit profile a-...

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