Fitch affirms Westar

Fitch Ratings said it affirmed the ratings for Westar Energy, Inc. and its utility subsidiary Kansas Gas and Electric Co. as follows:

• Westar's long-term issuer default rating at BBB-; senior secured debt at BBB+; senior unsecured debt at BBB; preferred stock at BB+; and short-term issuer default rating and commercial paper at F3; and

Kansas Gas' long-term issuer default rating to BBB-; senior secured debt at BBB+; and short-term issuer default rating and CP at F3.

In addition, Fitch said it has revised the outlook on both to positive from stable.

The ratings and positive outlook on the companies primarily reflect recent regulatory decisions and cost-recovery mechanisms that will allow the utility to earn a reasonable return on invested capital and limit the negative effects of commodity price volatility, the agency noted.

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