Moody's downgrades KCPL

Moody's Investors Service said it downgraded the senior unsecured rating of Kansas City Power and Light to Baa2 from Baa1, and affirmed its A3 senior secured rating and Prime -2 short-term commercial paper rating.

The outlook is stable.

KCPL's operating results in 2009 were challenged by weakness in the Missouri economy as well as atypically cool summer weather, the agency noted. Although there was modest improvement in credit metrics during the year, the company's credit profile is more reflective of the Baa2 rating category given the challenges in executing its two Iatan construction programs.

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