Fitch ups Westar Energy

Fitch Ratings said it upgraded the long-term issuer default rating for Westar Energy, Inc. and its utility subsidiary Kansas Gas and Electric Co. to BBB from BBB-. Fitch upgraded Westar's senior secured debt to A- from BBB+, senior unsecured debt to BBB+ from BBB, preferred stock to BBB- from BB+, short-term issuer default rating to F2 from F3 and commercial paper to F2 from F3.

The outlook is stable.

The ratings consider a constructive regulatory environment in Kansas that has improved in recent years and management's focus on core utility operations and transmission projects as well as a moderately large capital spending program that includes a significant amount of required environmental upgrades at the companies' coal-fired power plants, the agency said.

The upgrade primarily reflects expectations for continued solid financial performance and a stable operating environment over the three-year forecast period, the agency added.

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