Fitch gives Kansas Gas notes BBB-

Fitch Ratings said it assigned a BBB- rating to the $320 million new issuance of Kansas Gas and Electric Co. (KG&E) secured facility bonds series 2005 due Sept. 29, 2021.

The outlook is positive.

The secured facility bonds are supported by rent and other payments made by the utility as lessee of a 50% interest in the LaCygne Unit 2 coal-fired generating plant, Fitch said.

The rating and positive rating outlook reflect the lease claim on KG&E, the value of the associated lease collateral and the key role of the facility in meeting customer demand, the agency noted.

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