S&P: Westar unaffected

Standard & Poor's said Westar Energy Inc.'s (BB+/positive/--) rate filing with the Kansas Corporation Commission was expected and will not affect its rating or outlook on the company.

However, S&P said a responsive rate decision, which is expected in December 2005, together with Westar's continued credit-supportive actions, might enable the company to achieve and sustain investment grade credit metrics.

Westar is seeking a $47.8 million electric rate hike, and subsidiary Kansas Gas & Electric Co. (BB+/positive/--) is requesting a $36.3 million rate increase.

The rate filing also proposes two income-sharing plans between ratepayers and shareholders, one based on a combination of customer service and financial performance and the other on wholesale sales.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.