S&P: Westar unaffected

Standard & Poor's said the planned issuance of about $187 million of common stock by Westar Energy, Inc. (BBB-/stable) will help to maintain capital structure balance during the company's heavy construction program but will not affect current ratings.

An over-allotment option, if exercised, will bring the total common stock issuance to $215 million.

Proceeds will be used to repay short-term debt, fund construction outlays and for general corporate purposes.

S&P said the proposed common equity sale and associated deleveraging was expected and factored into the company's investment-grade corporate credit rating and stable outlook.

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