Evergy Inc. reported its second-quarter earnings and affirmed its 2023 earnings guidance. The second-quarter earnings decreased from the same period last year, driven primarily by less favorable weather, higher depreciation, amortization, and interest expense, partially offset by growth in weather-normalized sales, transmission margins, and lower operating expenses. We continue to have a negative outlook on the company, primarily reflecting weaker financials. Our current downgrade threshold for the company is funds from operations (FFO) to debt of less than 16%. Given the weaker-than-expected quarter, Evergy?s financials remain weak for the current credit rating, specifically FFO to debt of 14.4% for the 12 months ended June 2023. We continue to actively monitor rate case activity. Evergy Metro is requesting a net increase
