S&P lifts Westar, Kansas Gas

Standard & Poor's said it raised the ratings on Westar Energy Inc. and its subsidiary, Kansas Gas & Electric Co., to BBB+ from BBB.

The outlook on both companies is stable.

S&P also said it raised the ratings on Westar's and Kansas Gas' first-mortgage bonds to A from A- and Kansas Gas' secured facility bonds to BBB+ from BBB.

The short-term and commercial-paper ratings on Westar remain at A-2.

The upgrades reflect the company's improved business risk profile stemming from its continuing strategy to focus on its regulated utilities, effective management of regulatory risk and strengthening cost recovery through the regulatory process, said Gerrit Jepsen, an S&P analyst.

Profitability has subsequently stabilized and financial measures have strengthened, Jepsen said in a press release.

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