S&P: No change for Kansas City Power

Standard & Poor's said that while unfavorable for Kansas City Power & Light Co. (BBB/watch neg/A-3), the Missouri Court of Appeals' decision to reverse the Missouri Public Service Commission's approval of the company's stipulated agreement with the commission and the Missouri Office of Public Counsel, does not affect ratings on the company at this time.

Nonetheless, the decision raises certain credit concerns, S&P said. As per the stipulated agreement, signatories are legally bound to support the company's comprehensive energy plan, unless the commission doesn't approve the plan, the agency said. Although the commission approved the plan in 2005, the court's decision makes the commission's approval null and void. As such, it is uncertain whether signatories will continue to consider themselves technically bound by the agreement, the agency said.

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