S&P: Great Plains outlook negative

Standard & Poor's said it affirmed the BBB corporate credit rating and long-term ratings on Great Plains Energy Inc. and its subsidiaries and revised the outlook to negative from stable.

The agency also lowered the short-term rating on subsidiary Kansas City Power and Light Co. to A-3 from A-2.

The agency said the outlook revision and downgrade reflect the company's currently weak financial measures, which do not correspond to the current rating. Although the financial measures are expected to improve, the company may find it difficult to restore its financial profile due to the recession and the volatility of the credit markets, S&P predicted.

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