S&P: Westar Energy unaffected

Standard & Poor's said that Westar Energy Inc.'s (BB+/positive/--) resolution of all remaining issues with Protection One and affiliates of Quadrangle Group, the purchaser of Westar's 88% stake in Protection One, was largely incorporated into the current ratings.

As a result of the settlement, Westar expects to realize an after-tax earnings gain of about $70 million in the fourth quarter.

S&P said the agreement resolves lingering uncertainties, as well as the release of all outstanding claims by Protection One and therefore is supportive of credit quality.

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