S&P lifts Great Plains Energy

Standard & Poor's said it raised the issuer credit ratings on Great Plains Energy Inc. and its utility subsidiaries, Kansas City Power & Light Co. and KCP&L Greater Missouri Operations Co. to BBB+ from BBB.

The outlooks on the three companies are stable.

S&P also said it raised the ratings on Great Plain's senior unsecured debt to BBB from BBB- and its preferred stock to BBB- from BB+, Kansas City Power's first-mortgage bonds to A from A- and senior unsecured debt to BBB+ from BBB and KCP&L Greater Missouri's senior unsecured debt to BBB+ from BBB.

The agency also said it affirmed the A-2 short-term ratings on Kansas City Power and Great Plains, which guarantees KCP&L Great Missouri's commercial-paper program.

The upgrades reflect the group'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, S&P said.

Profitability has mostly stabilized and financial measures have been strengthening, the agency added.

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