Moody’s ups Kansas City Power notes

Moody's Investors Service said it upgraded six outstanding issues of senior unsecured notes of Kansas City Power & Light Co. (Baa1 stable) to A2 from Baa1 based on general mortgage bonds being pledged as security for the notes.

The six issues include the $300 million notes due 2023, $350 million notes due 2025, $250 million notes due 2035, $400 million notes due 2041, $300 million notes due 2047 and $300 million notes due 2048.

The company’s other ratings and stable outlook are unchanged.

“The two-notch upgrade is consistent with our practice of rating senior secured debt two notches above the senior unsecured debt of U.S. investment grade regulated utilities,” the agency said in a news release.

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